Superior Industries International (SUP) 10-K 2 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 24, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Trading Symbol	SUP
Entity Registrant Name	SUPERIOR INDUSTRIES INTERNATIONAL, INC.
Entity Central Index Key	0000095552
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		27,016,125
Entity Public Float			$ 106,713,694
Smaller Reporting Company	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Title of 12(b) Security	Common Stock, $0.01 par value
Security Exchange Name	NYSE
Entity Shell Company	false
Entity File Number	001-6615
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-2594729
Entity Address, Address Line One	26600 Telegraph Road
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Southfield
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48033
City Area Code	248
Local Phone Number	352-7300
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s 2023 Proxy Statement, to be filed with the Securities and Exchange Commission within 120 days after the close of the registrant’s fiscal year, are incorporated by reference into Part III of this Form 10-K.
Auditor Firm Id	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Detroit, Michigan

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
NET SALES	$ 1,639,902	$ 1,384,750
Cost of sales	1,473,515	1,270,035
GROSS PROFIT	166,387	114,715
Selling, general and administrative expenses	68,347	59,339
INCOME FROM OPERATIONS	98,040	55,376
Interest expense, net	(46,314)	(41,879)
Other expense, net	(588)	(2,306)
INCOME BEFORE INCOME TAXES	51,138	11,191
Income tax provision	(14,104)	(7,437)
NET INCOME	$ 37,034	$ 3,754
EARNINGS (LOSS) PER SHARE - BASIC	$ 0.02	$ (1.17)
EARNINGS (LOSS) PER SHARE - DILUTED	$ 0.02	$ (1.17)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 37,034	$ 3,754
Other comprehensive income (loss), net of tax:
Foreign currency translation gain (loss)	86	(20,529)
Change in unrecognized gains (losses) on derivative instruments:
Change in fair value of derivatives	29,773	(8,370)
Tax (provision) benefit	(878)	1,057
Change in unrecognized gains (losses) on derivative instruments, net of tax	28,895	(7,313)
Defined benefit pension plan:
Actuarial gains on pension obligation, net of amortization	7,724	1,314
Pension changes, net of tax	7,724	1,314
Other comprehensive income (loss), net of tax	36,705	(26,528)
Comprehensive income (loss)	$ 73,739	$ (22,774)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 213,022	$ 113,473
Accounts receivable, net	72,725	83,447
Inventories, net	178,688	172,099
Income taxes receivable	2,261	4,957
Other current assets	42,218	30,279
Total current assets	508,914	404,255
Property, plant and equipment, net	473,960	494,401
Deferred income tax assets, net	35,187	27,715
Intangibles, net	51,497	76,870
Other non-current assets	64,181	50,906
Total assets	1,133,739	1,054,147
Current liabilities:
Accounts payable	158,049	153,197
Short-term debt	5,873	6,081
Accrued expenses	74,108	71,525
Income taxes payable	13,300	1,076
Total current liabilities	251,330	231,879
Long-term debt (less current portion)	616,145	602,355
Non-current income tax liabilities	8,524	8,289
Deferred income tax liabilities, net	3,468	3,913
Other non-current liabilities	55,733	77,089
Commitments and contingent liabilities (Note 18)
Mezzanine equity:
Preferred stock, $0.01 par value Authorized - 1,000,000 shares Issued and outstanding 150,000 shares outstanding at December 31, 2022 and December 31, 2021	222,753	199,897
European non-controlling redeemable equity	1,083	1,146
Shareholders’ deficit:
Common stock, $0.01 par value Authorized - 100,000,000 shares Issued and outstanding 27,016,125 and 26,163,077 shares at December 31, 2022 and December 31, 2021	111,105	103,214
Accumulated other comprehensive loss	(89,269)	(125,974)
Retained earnings	(47,133)	(47,661)
Total shareholders’ deficit	(25,297)	(70,421)
Total liabilities, mezzanine equity and shareholders’ deficit	$ 1,133,739	$ 1,054,147

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	150,000	150,000
Preferred stock, shares outstanding	150,000	150,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	27,016,125	26,163,077
Common stock, shares outstanding	27,016,125	26,163,077

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Unrecognized Gains (Losses) on Derivative Instruments	Pension Obligations	Cumulative Translation Adjustment	Retained Earnings
Beginning of period at Dec. 31, 2020	$ (21,522)	$ 95,247	$ (1,738)	$ (7,447)	$ (90,261)	$ (17,323)
Beginning of the period (in shares) at Dec. 31, 2020		25,591,930
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,754					3,754
Change in unrecognized gains/(losses) on derivative instruments, net of tax	(7,313)		(7,313)
Change in defined benefit plans, net of taxes	1,314			1,314
Net foreign currency translation adjustment	(20,529)				(20,529)
Common stock issued, net of shares withheld for employee taxes (in shares)		571,147
Stock-based compensation	7,967	$ 7,967
Redeemable preferred 9% dividend and accretion	(34,050)					(34,050)
European non-controlling redeemable equity dividend	(42)					(42)
End of period at Dec. 31, 2021	$ (70,421)	$ 103,214	(9,051)	(6,133)	(110,790)	(47,661)
End of the period (in shares) at Dec. 31, 2021	26,163,077	26,163,077
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 37,034					37,034
Change in unrecognized gains/(losses) on derivative instruments, net of tax	28,895		28,895
Change in defined benefit plans, net of taxes	7,724			7,724
Net foreign currency translation adjustment	86				86
Common stock issued, net of shares withheld for employee taxes (in shares)		853,048
Stock-based compensation	7,891	$ 7,891
Redeemable preferred 9% dividend and accretion	(36,453)					(36,453)
European non-controlling redeemable equity dividend	(53)					(53)
End of period at Dec. 31, 2022	$ (25,297)	$ 111,105	$ 19,844	$ 1,591	$ (110,704)	$ (47,133)
End of the period (in shares) at Dec. 31, 2022	27,016,125	27,016,125

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Deficit) (Parenthetical)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Preferred stock, dividend rate, percentage	9%	9%

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 37,034	$ 3,754
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	91,172	99,635
Income tax, non-cash changes	(9,264)	(1,958)
Stock-based compensation	9,679	9,479
Amortization of debt issuance costs	8,654	4,436
Other non-cash items	(470)	(10,505)
Accounts receivable	10,180	(38,233)
Inventories	(11,282)	(26,371)
Other assets and liabilities	(3,273)	6,607
Accounts payable	5,051	(1,691)
Income taxes	15,089	(268)
NET CASH PROVIDED BY OPERATING ACTIVITIES	152,570	44,885
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, plant, and equipment	(57,157)	(64,113)
Proceeds from sale of fixed assets	150	6,589
NET CASH USED IN INVESTING ACTIVITIES	(57,007)	(57,524)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt	388,000	1,658
Repayments of debt	(354,408)	(4,967)
Cash dividends paid	(13,648)	(13,543)
Financing costs paid and other	(12,589)	(4,340)
Payments related to tax withholdings for stock-based compensation	(1,788)	(1,512)
Finance lease payments	(1,062)	(1,321)
NET CASH PROVIDED BY FINANCING ACTIVITIES	4,505	(24,025)
Effect of exchange rate changes on cash	(519)	(2,286)
Net increase (decrease) in cash and cash equivalents	99,549	(38,950)
Cash and cash equivalents at the beginning of the period	113,473	152,423
Cash and cash equivalents at the end of the period	$ 213,022	$ 113,473

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 1 - SUMMARY OF SIGNI FICANT ACCOUNTING POLICIES Nature of Operations Superior Industries International, Inc.’s (referred to herein as the “Company,” “Superior,” or “we” and “our”) principal business is the design and manufacture of aluminum wheels for sale to original equipment manufacturers (“OEMs”) in North America and Europe and to the aftermarket in Europe. We employ approximately 7,700 full-time employees, operating in eight manufacturing facilities in North America and Europe. We are one of the largest aluminum wheel suppliers to global OEMs and one of the leading European aluminum wheel aftermarket manufacturers and suppliers. Our OEM aluminum wheels accounted for approximately 94 percent of our sales in 2022 and are primarily sold for factory installation on vehicle models manufactured by BMW (including Mini), Ford, GM, Honda, Jaguar-Land Rover, Lucid Motors, Mazda, Mercedes-Benz Group, Nissan, PSA, Renault, Stellantis, Subaru, Suzuki, Toyota, VW Group (Volkswagen, Audi, SEAT, Skoda, Porsche, Bentley) and Volvo. We sell aluminum wheels to the European aftermarket under the brands ATS, RIAL, ALUTEC and ANZIO. North America and Europe represent the principal markets for our products, but we have a diversified global customer base consisting of North American, European and Asian OEMs. We have determined that our North American and European operations should be treated as separate reportable segments as further described in Note 5, “Business Segments.” Presentation of Consolidated Financial Statements The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions are eliminated in consolidation. Accounting estimates are an integral part of the consolidated financial statements. These estimates require the use of judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses in the periods presented. We believe that the accounting estimates employed are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in developing estimates, actual results could differ from the original estimates, requiring adjustments to these balances in future periods. Cash and Cash Equivalents Cash and cash equivalents generally consist of cash, certificates of deposit, fixed deposits and money market funds with original maturities of three months or less. Derivative Financial Instruments and Hedging Activities Our derivatives are over-the-counter customized derivative instruments and are not exchange traded. We account for our derivative instruments as either assets or liabilities and adjust them to fair value each period. For derivative instruments that hedge the exposure to variability in expected future cash flows that are designated as cash flow hedges, the gain or loss on the derivative instrument is recorded in accumulated other comprehensive income or loss in shareholders’ equity or deficit until the hedged item is recognized in earnings, at which point accumulated gains or losses are recognized in earnings and classified with the underlying hedged transaction. Derivatives that do not qualify or have not been designated as hedges are adjusted to fair value through earnings in the financial statement line item to which the derivative relates (refer to Note 4, “Derivative Financial Instruments” for additional information pertaining to our derivative instruments). We enter into contracts to purchase certain commodities used in the manufacture of our products, such as aluminum, natural gas and electricity. These contracts are considered to be derivative instruments under U.S. GAAP; however, these purchase contracts are not accounted for as derivatives because they qualify for the normal purchase normal sale exemption. Accounts Receivable Accounts receivable primarily consists of amounts that are due and payable from our customers for the sale of aluminum wheels. We evaluate the collectability of receivables each reporting period and record an allowance for doubtful accounts representing our estimate of probable losses. Additions to the allowance are charged to bad debt expense reported in selling, general and administrative expenses. Table of Contents Inventory Inventories, which are categorized as raw materials, work-in-process or finished goods, are stated at the lower of cost or net realizable value. The cost of inventories is measured using the FIFO (first-in, first-out) method or the average cost method. Inventories are reviewed to determine if inventory quantities are in excess of forecasted usage or if they have become obsolete. Aluminum is the primary material component in our inventories. The Company had three aluminum suppliers in 2022 and two aluminum suppliers in 2021 which individually exceeded 10 percent of total aluminum purchases and, in the aggregate, represented 61.4 percent and 56.2 percent of our total aluminum purchases, respectively. Property, Plant and Equipment Property, plant and equipment are carried at cost, less accumulated depreciation. The cost of additions, improvements and interest during construction, if any, are capitalized. Our maintenance and repair costs are charged to expense when incurred. Depreciation is calculated generally on the straight-line method based on the estimated useful lives of the assets. Classification Expected Useful Life Buildings 15 to 50 years Machinery and equipment 3 to 20 years Leasehold Improvements Lease term When property, plant and equipment is replaced, retired or otherwise disposed of, the cost and related accumulated depreciation are removed and any resulting gain or loss on the disposition of an operating asset is included in income or loss from operations and is classified as a part of selling, general and administrative expenses. Any gain or loss on the disposition of a nonoperating asset, as well as any casualty gain or loss, is included in other income or expense. Impairment of Long-Lived Assets The carrying amount of long-lived assets to be held and used in the business is evaluated for impairment whenever facts and circumstances suggest that the carrying value of the assets may not be recoverable. An impairment loss occurs when the carrying value of an asset group (including the carrying value of liabilities associated with the long-lived assets within the asset group) exceeds the undiscounted cash flows expected to be realized from the use and eventual disposition of the respective long-lived assets. An asset group is the unit of accounting for a long-lived asset or group of long-lived assets which represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other asset groups. Fair value is determined primarily by discounting the estimated expected cash flows. If the carrying amount of an asset group is impaired, a loss is recognized based on the amount by which the carrying value exceeds fair value. The Company’s asset groups consist of the North American and European reportable segments. Intangible Assets Intangible assets are finite-lived assets consisting of brand names, technology and customer relationships. Finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives (since the pattern in which the asset will be consumed cannot be reliably determined). Foreign Currency Transactions and Translation The assets and liabilities of foreign subsidiaries that use local currency as their functional currency are translated to U.S. dollars based on the current exchange rate prevailing at each balance sheet date and any resulting translation adjustments are included in accumulated other comprehensive income or loss. The assets and liabilities of foreign subsidiaries whose local currency is not their functional currency are remeasured from their local currency to their functional currency and then translated to U.S. dollars. Revenues and expenses are translated into U.S. dollars using the average exchange rates prevailing for each period presented. Gains and losses arising from foreign currency transactions and the effects of remeasurement discussed in the preceding paragraph are recorded in other income or expense. We recognized foreign currency transaction and remeasurement gains of $ 1.35 million and $ 0.3 million in 2022 and 2021, respectively. Table of Contents Revenue Recognition Revenue is recognized when performance obligations under our contracts are satisfied. Generally, this occurs upon shipment when control of products transfers to our customers. At this point, revenue is recognized in an amount reflecting the consideration we expect to be entitled to under the terms of our contract. The Company maintains long-term business relationships with our OEM customers and aftermarket distributors; however, there are no definitive long-term volume commitments under these arrangements. Volume commitments are limited to near-term customer requirements authorized under purchase orders or production releases generally with delivery periods of approximately one month. Sales do not involve any significant financing component since customer payment is generally due 40-60 days after shipment. Contract assets and liabilities consist of customer receivables and deferred revenues related to tooling. At contract inception, the Company assesses goods and services promised in its contracts with customers and identifies a performance obligation for each promise to deliver a good or service (or bundle of goods or services) that is distinct. Principal performance obligations under our customer contracts consist of the manufacture and delivery of aluminum wheels, including production wheels, service wheels and replacement wheels. As a part of the manufacture of the wheels, we develop tooling necessary to produce the wheels. Accordingly, tooling costs, which are explicitly recoverable from our customers, are capitalized as preproduction costs and amortized to cost of sales over the average life of the vehicle wheel program. Similarly, customer reimbursement for tooling costs is deferred and amortized to net sales over the average life of the vehicle wheel program. In the normal course of business, the Company’s warranties are limited to product specifications and the Company does not accept product returns unless the item is defective as manufactured. Accordingly, warranty costs are treated as a cost of fulfillment subject to accrual, rather than a performance obligation. The Company establishes provisions for both estimated returns and warranty when revenue is recognized. In addition, the Company does not typically provide customers with the right to a refund but provides for product replacement. Prices allocated to production, service and replacement wheels are based on prices established in our customer purchase orders which represent the standalone selling price. Prices for service and replacement wheels are commensurate with production wheels with adjustment for any special packaging. In addition, prices are subject to adjustment for changes in commodity prices for aluminum, alloy premium and silicon, as well as production efficiencies and wheel weight variations from specifications used in pricing. These price adjustments are treated as variable consideration. Customer tooling reimbursement is generally based on quoted prices or cost not to exceed quoted prices. We estimate variable consideration by using the “most likely” amount estimation approach. For commodity prices, initial estimates are based on the commodity index at contract inception. Changes in commodity prices are monitored and revenue is adjusted as changes in the commodity index occur. Prices incorporate the wheel weight price component based on product specifications. Weights are monitored, and prices are adjusted as variations arise. In North America OEM price adjustments due to manufacturing efficiencies are generally recognized as and when negotiated with customers. Contracts with European OEMs generally include annual price reductions based on expected manufacturing efficiencies over the life of the vehicle wheel program which are accrued as revenue is recognized. Customer contract prices are generally adjusted quarterly to incorporate price adjustments. Under the Company’s policies, shipping costs are treated as a cost of fulfillment. In addition, the Company does not disclose remaining performance obligations under its contracts since contract terms are substantially less than a year (generally less than one month). Our revenue recognition practices and related transactions and balances are further described in Note 2, “Revenue.” Stock-Based Compensation We account for stock-based compensation using the estimated fair value recognition method. We recognize these compensation costs on a straight-line basis over the requisite service period of the award, which is generally the vesting term of three years. Refer to Note 17, “Stock-Based Compensation” for additional information concerning our stock-based compensation awards. Table of Contents Income Taxes We account for income taxes using the asset and liability method. The asset and liability method requires the recognition of deferred tax assets and liabilities for expected future tax consequences of temporary differences that currently exist between the tax basis and financial reporting basis of our assets and liabilities. We calculate current and deferred tax provisions based on estimates and assumptions that could differ from actual results reflected on the income tax returns filed during the following years. Adjustments based on filed returns are recorded when identified in the subsequent years. The effect on deferred taxes of a change in tax rates is recognized in income in the period that the tax rate change is enacted. The ability to realize deferred tax assets depends on the ability to generate sufficient taxable income in the future. A valuation allowance is provided for deferred income tax assets when, in our judgment, based upon currently available information and other factors, it is more likely than not that all or a portion of such deferred income tax assets will not be realized. The assessment regarding whether a valuation allowance is required or should be adjusted is based on an evaluation of possible sources of taxable income and considers all available positive and negative evidence factors. Our accounting for the valuation of deferred tax assets represents our best estimate of future events. We believe that the determination to record a valuation allowance to reduce a deferred income tax asset is a significant accounting estimate because it is based, among other things, on an estimate of taxable income, which is susceptible to change and may or may not occur, and because the impact of adjusting a valuation allowance may be material. In determining when to release the valuation allowance established against our net deferred income tax assets, we consider all available evidence, both positive and negative. We account for uncertain tax positions utilizing a two-step approach to evaluate tax positions. Step one, recognition, requires evaluation of the tax position to determine if based solely on technical merits it is more likely than not to be sustained upon examination. Step two, measurement, is addressed only if a position is more likely than not to be sustained. In step two, the tax benefit is measured as the largest amount of benefit, determined on a cumulative probability basis, which is more likely than not to be realized upon ultimate settlement with tax authorities. If a position does not meet the more likely than not threshold for recognition in step one, no benefit is recorded until the first subsequent period in which the more likely than not standard is met, the issue is resolved with the taxing authority, or the statute of limitations expires. Positions previously recognized are derecognized when we subsequently determine the position no longer is more likely than not to be sustained. Evaluation of tax positions, their technical merits, and measurements using cumulative probability are highly subjective management estimates. Actual results could differ materially from these estimates. In 2022 and 2021, we have provided deferred income taxes for the estimated U.S. federal and state income tax, foreign income tax and applicable withholding taxes on unremitted earnings of subsidiaries. Cash Paid for Interest and Taxes and Noncash Investing Activities Cash paid for interest was $ 38.2 million and $ 36.7 million, respectively, for the years ended December 31, 2022 and 2021. Cash paid for income taxes was $ 8.0 million and $ 10.5 million for the years ended December 31, 2022 and 2021, respectively. As of December 31, 2022 and 2021, we had purchased but not yet paid for equipment of $ 9.3 million and $ 11.2 million, respectively, which are included in accounts payable and accrued expenses in our consolidated balance sheets. Adoption of New Accounting Standards ASU 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance.” As of January 1, 2022, we adopted this standard on a prospective basis. The standard requires entities to disclose information about any transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. Disclosures under ASU 2021-10 include: information about the nature of the transactions and the related accounting policy used to account for the transactions, the financial statement line items affected by the transactions, the amounts applicable to each financial statement line item and significant terms and conditions of the transactions, including commitments and contingencies. The adoption of this accounting standard did not have a material effect on our financial statements or disclosures since we have not received any significant governmental assistance. Table of Contents Accounting Standards Issued But Not Yet Adopted Accounting Standards Update (ASU) 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” In June 2016, the Financial Accounting Standards Board issued ASU 2016-13 which requires entities to use a new impairment model based on current expected credit losses (“CECL”) rather than incurred losses. Under CECL, estimated credit losses would incorporate relevant information about past events, current conditions and reasonable and supportable forecasts and any expected credit losses would be recognized at the end of the period. As a smaller reporting company (as defined under SEC regulations), the Company is required to adopt the standard January 1, 2023. We do not expect that adoption of the standard will result in any cumulative adjustment nor have any material effect on our financial statements or disclosures since our credit losses have been (and are expected to remain) immaterial due to the financial strength of our OEM customers and the relatively short term nature of our contractual terms with our OEM and aftermarket customers. Accounting Standards Update (ASU) 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” In September 2022, the Financial Accounting Standards Board issued ASU 2022-04 which requires that a buyer in a supplier finance program disclose the key terms of the program, including a description of the payment terms. For the obligations that the buyer has confirmed as valid to the finance provider or intermediary, the buyer must disclose: the amount outstanding that remains unpaid by the buyer as of the end of each year, a description of where those obligations are presented in the balance sheet and a rollforward of those obligations during the year, including the amount of obligations confirmed and the amount of obligations subsequently paid. This standard becomes effective for fiscal years beginning January 1, 2023, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. In adopting this standard, disclosures currently included in management's discussion and analysis regarding supply chain financing will be incorporated into the notes to the consolidated financial statements along with disclosure of payment terms under the program, as well as a roll forward of the amounts owed to the financial institution which has discounted supplier receivables.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	NOTE 2 - REVENUE The Company disaggregates revenue from contracts with customers into our reportable segments, North America and Europe. Revenues by segment for the years ended December 31, 2022 and 2021 are summarized in Note 5, “Business Segments”. The opening and closing balances of the Company’s receivables and current and long-term contract liabilities are as follows: December 31, December 31, Change (Dollars in thousands) Customer receivables $ 63,565 $ 74,887 $ ( 11,322 ) Contract liabilities—current 6,251 6,887 ( 636 ) Contract liabilities—noncurrent 8,355 10,526 ( 2,171 ) The changes in the contract liability balances primarily result from timing differences between our performance and customer payment while the decrease in customer receivables is primarily due to the decrease in the fourth quarter 2022 aluminum prices and shipping volumes. During the years ended December 31, 2022 and 2021, the Company recognized tooling reimbursement revenue of $ 10.5 million and $ 13.1 million, respectively, which had been deferred in prior periods and was previously included in contract liability (deferred revenue), as well as revenue on tooling invoiced, deferred and recognized in the current and prior year. During the year ended December 31, 2022 and 2021, the Company recognized revenue of $ 1.5 million and $ 2.6 million, respectively, from obligations satisfied in prior periods as a result of adjustments to pricing estimates for production efficiencies and other revenue adjustments.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 3 - FAIR VALUE MEASUREMENTS The Company applies fair value accounting for all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis, while other assets and liabilities are measured at fair value on a nonrecurring basis, such as an asset impairment. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability. The carrying amounts for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short period of time until maturity. Derivative Financial Instruments Our derivatives are over-the-counter customized derivative instruments and are not exchange traded. We estimate the fair value of these instruments using the income valuation approach. Under this approach, we project future cash flows and discount the future amounts to a present value using market-based expectations for interest rates, foreign exchange rates, commodity prices and the contractual terms of the derivative instruments. The discount rate used is the relevant benchmark rate (e.g., SOFR) plus an adjustment for nonperformance risk. The following tables categorize items measured at fair value at December 31, 2022 and 2021: Fair Value Measurement at Reporting Date Using December 31, 2022 Quoted Prices in Significant Significant (Dollars in thousands) Assets Derivative contracts $ 34,960 $ — $ 34,960 $ — Total $ 34,960 $ — $ 34,960 $ — Liabilities . Derivative contracts $ 11,780 $ — $ 11,780 $ — Total $ 11,780 $ — $ 11,780 $ — Fair Value Measurement at Reporting Date Using December 31, 2021 Quoted Prices in Significant Significant (Dollars in thousands) Assets Derivative contracts $ 10,362 $ — $ 10,362 $ — Total $ 10,362 $ — $ 10,362 $ — Liabilities . Derivative contracts $ 19,711 $ — $ 19,711 $ — Total $ 19,711 $ — $ 19,711 $ — Table of Contents Debt Instruments The carrying values of the Company’s debt instruments vary from their fair values. The fair values were determined by reference to transacted prices and quotes for these securities (Level 2). The estimated fair value, as well as the carrying value, of the Company’s debt instruments are shown below: December 31, December 31, (Dollars in thousands) Estimated aggregate fair value $ 615,394 $ 605,874 Aggregate carrying value (1) 647,443 616,215 (1) Total debt excluding the impact of unamortized debt issuance costs.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	NOTE 4 - DERIVATIVE FINANCIAL INSTRUMENTS We use derivatives to partially offset our exposure to foreign currency, interest rate, aluminum and other commodity price risks. We may enter into forward contracts, option contracts, swaps, collars or other derivative instruments to offset some of the risk on expected future cash flows and on certain existing assets and liabilities. However, we may choose not to hedge certain exposures for a variety of reasons including, but not limited to, accounting considerations and the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will fully offset the financial impact resulting from movements in foreign currency exchange rates, interest rates, and aluminum or other commodity prices. To help mitigate gross margin and cash flow fluctuations due to changes in foreign currency exchange rates, certain of our subsidiaries, whose functional currency is the U.S. dollar or the Euro, hedge a portion of their forecasted foreign currency costs denominated in the Mexican Peso and Polish Zloty, respectively. We may hedge portions of our forecasted foreign currency exposure up to 48 months . We account for our derivative instruments as either assets or liabilities and adjust them to fair value each period. For derivative instruments that hedge the exposure to variability in expected future cash flows and are designated as cash flow hedges, the gain or loss on the derivative instrument is recorded in accumulated other comprehensive income (“AOCI”) or loss in shareholders’ equity or deficit until the hedged item is recognized in earnings, at which point accumulated gains or losses are recognized in earnings and classified with the underlying hedged transaction. Derivatives that do not qualify or have not been designated as hedges are adjusted to fair value through earnings in the financial statement line item to which the derivative relates. The following tables display the fair value of derivatives by balance sheet line item at December 31, 2022 and December 31, 2021: December 31, 2022 Other Other Accrued Other (Dollars in thousands) Foreign exchange forward contracts designated as $ 11,210 $ 15,890 $ 2,873 $ 5,212 Foreign exchange forward contracts not 603 — 192 — Aluminum forward contracts designated as — — 1,213 — Natural gas forward contracts designated as 498 655 1,520 770 Interest rate swap contracts designated as hedging 4,112 1,992 — — Total derivative financial instruments $ 16,423 $ 18,537 $ 5,798 $ 5,982 Table of Contents December 31, 2021 Other Other Accrued Other (Dollars in thousands) Foreign exchange forward contracts designated as $ 3,161 $ 2,194 $ 1,845 $ 13,565 Foreign exchange forward contracts not 579 — 3 — Aluminum forward contracts designated as 2,677 39 — — Natural gas forward contracts designated as 1,294 418 135 276 Interest rate swap contracts designated as hedging — — 3,887 — Total derivative financial instruments $ 7,711 $ 2,651 $ 5,870 $ 13,841 The following table summarizes the notional amount and estimated fair value of our derivative financial instruments: December 31, 2022 December 31, 2021 Notional Fair Notional Fair (Dollars in thousands) Foreign exchange forward contracts designated as $ 462,783 $ 19,015 $ 458,769 $ ( 10,055 ) Foreign exchange forward contracts not designated 39,726 411 24,419 576 Aluminum forward contracts designated as 9,495 ( 1,213 ) 37,609 2,716 Natural gas forward contracts designated as hedging 13,500 ( 1,137 ) 8,915 1,301 Interest rate swap contracts designated as hedging 250,000 6,104 200,000 ( 3,887 ) Total derivative financial instruments $ 775,504 $ 23,180 $ 729,712 $ ( 9,349 ) Notional amounts are presented on a net basis. The notional amounts of the derivative financial instruments do not represent amounts exchanged by the parties and, therefore, are not a direct measure of our exposure to the financial risks described above. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives, such as interest rates, foreign currency exchange rates or commodity prices. The following tables summarize the gain or loss recognized in accumulated other comprehensive income or loss (“AOCI”), the amounts reclassified from AOCI into earnings, and the amounts recognized directly into earnings for the years ended December 31, 2022 and 2021: Year Ended December 31, 2022 Amount of Gain or Amount of Pre-tax Amount of Pre-tax (Dollars in thousands) Derivative contracts $ 28,895 $ 14,962 $ 2,074 Year Ended December 31, 2021 Amount of Gain or Amount of Pre-tax Amount of Pre-tax (Dollars in thousands) Derivative contracts $ ( 7,313 ) $ 4,106 $ ( 1,047 ) Table of Contents

Business Segments

Business Segments	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Business Segments	NOTE 5 - BUSINESS SEGMENTS Our North American and European operations represent separate operating segments in view of significantly different markets, customers and products between these regions. Within each of these regions, markets, customers, products, and production processes are similar. Moreover, our business within each region leverages common systems, processes, and infrastructure. Accordingly, North America and Europe comprise the Company’s reportable segments. Net Sales Income from Operations Year Ended December 31, 2022 2021 2022 2021 (Dollars in thousands) North America $ 943,713 $ 744,904 $ 71,772 $ 50,798 Europe 696,189 639,846 26,268 4,578 $ 1,639,902 $ 1,384,750 $ 98,040 $ 55,376 Depreciation and Amortization Capital Expenditures Year Ended December 31, 2022 2021 2022 2021 (Dollars in thousands) North America $ 36,301 $ 36,243 $ 39,265 $ 30,005 Europe 54,871 63,392 17,892 34,108 $ 91,172 $ 99,635 $ 57,157 $ 64,113 Property, Plant and Equipment, net Intangible Assets Year Ended December 31, 2022 2021 2022 2021 (Dollars in thousands) North America $ 220,321 $ 214,331 $ — $ — Europe 253,639 280,070 51,497 76,870 $ 473,960 $ 494,401 $ 51,497 $ 76,870 Total Assets Year Ended December 31, 2022 2021 (Dollars in thousands) North America $ 582,339 $ 499,988 Europe 551,400 554,159 $ 1,133,739 $ 1,054,147 Geographic information See table below for our net sales and long-lived assets by location: Net Sales Property, Plant and Equipment, net Year Ended December 31, 2022 2021 2022 2021 (Dollars in thousands) U.S. $ 5,574 $ 8,166 $ 1,476 $ 2,152 Mexico 938,139 736,738 218,845 212,179 Germany 203,979 227,887 76,158 76,849 Poland 492,210 411,959 177,481 203,221 $ 1,639,902 $ 1,384,750 $ 473,960 $ 494,401

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Accounts Receivable	NOTE 6 - ACCOUNTS RECEIVABLE Year Ended December 31, 2022 2021 (Dollars in thousands) Trade receivables $ 64,225 $ 75,713 Other receivables 9,161 8,560 73,386 84,273 Allowance for doubtful accounts ( 661 ) ( 826 ) Accounts receivable, net $ 72,725 $ 83,447 Table of Contents The accounts receivable from GM, Ford and VW Group represented approximately 7 percent, 7 percent and 11 percent of the total accounts receivable, respectively, at December 31, 2022 and 10 percent, 9 percent and 10 percent of the total accounts receivable, respectively, at December 31, 2021. The related percentage of our total sales to each of these three customers is shown below: 2022 2021 GM 26 % 26 % Ford 16 % 13 % VW Group 14 % 14 %

Inventories

Inventories	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventories	NOTE 7 - INVENTORIES Year Ended December 31, 2022 2021 (Dollars in thousands) Raw materials $ 62,639 $ 47,392 Work in process 37,993 54,891 Finished goods 78,056 69,816 Inventories, net $ 178,688 $ 172,099 Service wheel and supplies inventory included in other noncurrent assets in the consolidated balance sheets totaled $ 11.3 million and $ 9.7 million at December 31, 2022 and 2021, respectively.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	NOTE 8 - PROPERTY, PLANT AND EQUIPMENT December 31, December 31, (Dollars in thousands) Land and buildings $ 144,870 $ 129,826 Machinery and equipment 887,222 861,097 Leasehold improvements and others 4,993 9,831 Construction in progress 80,263 67,529 1,117,348 1,068,283 Accumulated depreciation ( 643,388 ) ( 573,882 ) Property, plant and equipment, net $ 473,960 $ 494,401 Depreciation expense was $ 70.2 million and $ 73.3 million for the years ended December 31, 2022 and 2021, respectively.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 9 - INTANGIBLE ASSETS The Company’s finite-lived intangible assets as of December 31, 2022 and December 31, 2021 are summarized in the following table. Year Ended December 31, 2022 Gross Accumulated Currency Net Carrying Amount Remaining (Dollars in thousands) Brand name $ 9,000 $ ( 9,134 ) $ 134 $ — — Technology 15,000 ( 15,222 ) 222 — — Customer relationships 167,000 ( 114,595 ) ( 908 ) 51,497 1 - 6 Total finite-lived intangibles $ 191,000 $ ( 138,951 ) $ ( 552 ) $ 51,497 Table of Contents Year Ended December 31, 2021 Gross Accumulated Currency Net Carrying Amount Remaining (Dollars in thousands) Brand name $ 9,000 $ ( 8,503 ) $ 258 $ 755 1 - 2 Technology 15,000 ( 14,172 ) 430 $ 1,258 2 Customer relationships 167,000 ( 95,540 ) 3,397 $ 74,857 2 - 7 Total finite-lived intangibles $ 191,000 $ ( 118,215 ) $ 4,085 $ 76,870 Amortization expense for these intangible assets was $ 20.7 million and $ 26.3 million for the years ended December 31, 2022 and 2021, respectively. The anticipated annual amortization expense for these intangible assets is $ 19.3 million for 2023 and 2024, $ 9.5 million for 2025, $ 2.4 million for 2026 and $ 1.0 million for 2027.

Debt

Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	NOTE 10 - DEBT A summary of long-term debt and the related weighted average interest rates is shown below: December 31, 2022 Debt Instrument Total Debt Discount and (1) Total Weighted Average (Dollars in thousands) Term Loan Facility $ 400,000 $ ( 22,967 ) $ 377,033 12.3 % 6.00 % Senior Notes 232,352 ( 2,458 ) 229,894 6.0 % European CapEx loans 12,365 — 12,365 2.3 % Finance leases 2,726 — 2,726 2.7 % $ 647,443 $ ( 25,425 ) 622,018 Less: Current portion ( 5,873 ) Long-term debt $ 616,145 December 31, 2021 Debt Instrument Total Debt Issuance (1) Total Weighted Average (Dollars in thousands) Term Loan Facility $ 349,200 $ ( 4,338 ) $ 344,862 4.1 % 6.00 % Senior Notes 245,809 ( 3,441 ) 242,368 6.0 % European CapEx loans 18,595 — 18,595 2.3 % Finance leases 2,611 — 2,611 2.8 % $ 616,215 $ ( 7,779 ) 608,436 Less: Current portion ( 6,081 ) Long-term debt $ 602,355 (1) Unamortized portion Table of Contents Senior Notes On June 15, 2017, the Company issued € 250 million aggregate principal amount of 6.00 % Senior Notes (“Notes”) due June 15, 2025. Interest on the Notes is payable semiannually, on June 15 and December 15. The Company may redeem the Notes, in whole or in part, at a redemption price of 100 percent, plus any accrued and unpaid interest to, but not including, the applicable redemption date. If we experience a change of control or sell certain assets, the Company may be required to offer to purchase the Notes from the holders. The Notes are senior unsecured obligations ranking equally in right of payment with all of its existing and future senior indebtedness and senior in right of payment to any subordinated indebtedness. The Notes are effectively subordinated in right of payment to the existing and future secured indebtedness of the Company, including the Senior Secured Credit Facilities (as defined below), to the extent of the assets securing such indebtedness. Guarantee The Notes are unconditionally guaranteed by all material wholly owned direct and indirect domestic restricted subsidiaries of the Company (the “Notes Subsidiary Guarantors”), with customary exceptions including, among other things, where providing such guarantees is not permitted by law, regulation or contract, or would result in adverse tax consequences. Covenants Subject to certain exceptions, the indenture governing the Notes contains restrictive covenants that, among other things, limit the ability of the Company and the Subsidiary Guarantors to: (i) incur additional indebtedness or issue certain preferred stock; (ii) pay dividends on, or make distributions in respect of, their capital stock; (iii) make certain investments or other restricted payments; (iv) sell certain assets or issue capital stock of restricted subsidiaries; (v) create liens; (vi) merge, consolidate, transfer or dispose of substantially all of their assets; and (vii) engage in certain transactions with affiliates. These covenants are subject to several important limitations and exceptions that are described in the indenture. The indenture provides for customary events of default that include, among other things (subject in certain cases to customary grace and cure periods): (i) nonpayment of principal, premium, if any, and interest, when due; (ii) failure for 60 days to comply with any obligations, covenants or agreements in the indenture after receipt of written notice from the Bank of New York Mellon, London Branch (“the Trustee”) or holders of at least 30 percent in principal amount of the then outstanding Notes of such failure (other than defaults referred to in the foregoing clause (i)); (iii) default under any mortgage, indenture or instrument for money borrowed by the Company or certain of its subsidiaries, (iv) a failure to pay certain judgments; and (v) certain events of bankruptcy and insolvency. If an event of default occurs and is continuing, the Trustee or holders of at least 30 percent in principal amount of the then outstanding Notes may declare the principal, premium, if any, and accrued and unpaid interest on all the Notes to be due and payable. These events of default are subject to several important qualifications, limitations and exceptions that are described in the indenture. As of December 31, 2022, the Company was in compliance with all covenants under the indenture governing the Notes. Senior Secured Credit Facilities On December 15, 2022, the Company entered into a $ 400.0 million term loan facility (the “Term Loan Facility”) pursuant to a credit agreement (the “Term Loan Credit Agreement”) with Oaktree Fund Administration L.L.C., in its capacity as the administrative agent, JPMorgan Chase Bank, N.A., in its capacity as collateral agent, and other lenders party thereto. Concurrent with the execution of the Term Loan Facility, the Company entered into a $ 60.0 million revolving credit facility (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Secured Credit Facilities” or "SSCF") pursuant to a credit agreement (the “Revolving Credit Agreement” and, together with the Term Loan Credit Agreement, the "Credit Agreements") with JPMorgan Chase Bank, N.A., in its capacity as administrative agent, collateral agent and issuing bank, and other lenders and issuing banks thereunder. The previously outstanding $ 107.5 million US revolving credit facility and € 60.0 million European revolving credit facility were terminated. The Revolving Credit Facility and the Term Loan Facility are scheduled to mature on December 15, 2027 and December 15, 2028 , respectively. However, in the event the Company has not repaid, refinanced or otherwise extended the maturity date of the Notes beyond the maturity date of the Term Loan Facility by the date 91 days prior to June 15, 2025, the Term Loan Facility and Revolving Credit Facility would mature 91 days prior to June 15, 2025. Similarly, in the event the Company has not redeemed, refinanced or otherwise extended the unconditional redemption date of the redeemable preferred stock beyond the maturity date of the Term Loan Facility by the date 91 days prior to September 14, 2025, the Term Loan Facility and Revolving Credit Facility would mature 91 days prior to September 14, 2025. The Term Loan Facility requires quarterly principal payments of $ 1.0 million. Additional principal payments may be due with respect to asset sales, debt issuances and as a percentage of cash flow in excess of a specified threshold. Table of Contents The $ 388.0 million of proceeds from the Term Loan Facility (consisting of the $ 400.0 million aggregate principal less the original issuance discount of $ 12.0 million) were used to repay $ 349.2 million in borrowings under the previously outstanding term loan and pay debt issuance costs and expenses incurred in connection with the Term Loan Facility and Revolving Credit Facility. Debt issuance costs associated with the Term Loan Facility of $ 11.1 million have been reflected as a reduction of the outstanding borrowing and are being amortized over the six-year term. Debt issuance costs and expenses associated with the Revolving Credit Facility of $ 3.2 million have been recognized as a deferred charge and are being amortized over the five-year term. In connection with the termination of the previously outstanding term loan and revolving credit facilities, unamortized debt issuance costs of $ 3.7 m illion were written off and charged to interest expense. The Company may at any time request one or more increases in the amount of (i) commitments under the Term Loan Facility, up to an unlimited additional amount if, on a pro forma basis after the incurrence of such amount, the First Lien Net Leverage Ratio (as defined in the Term Loan Credit Agreement) does not exceed 2.00 to 1.00 and (ii) commitments under the Revolving Credit Facility, up to an aggregate maximum additional amount of $ 50.0 million, in each case, subject to certain conditions (including the agreement of a lender to provide such commitment increase). Amounts borrowed under the Term Loan Facility may be voluntarily prepaid at any time subject to a prepayment premium of 2.00 percent of the loan principal plus the net present value of any lost interest in the first year and 2.00 percent and 1.00 percent of the loan principal during second and third years, respectively. After the third anniversary of the closing date, there is no prepayment premium. Borrowings under the Term Loan Credit Facility bear interest at a rate equal to, at the Company’s option, either (i) the secured overnight financing rate (“SOFR”), with a floor of 1.50 percent per annum, or (ii) a base rate (“Term Base Rate”), with a floor of 1.50 percent per annum, equal to the highest of (1) the rate of interest in effect as publicly announced by the administrative agent as its prime rate, (2) the New York Federal Reserve Bank (the "NYFRB") rate plus 0.50 percent and (3) SOFR for an interest period of one month plus 1.00 percent, in each case, plus the applicable rate. Initially, the applicable rate for the fiscal quarter ending December 31, 2022 is equal to 8.00 percent for SOFR loans and 7.00 percent for Term Base Rate loans. Thereafter, the applicable rate will be determined by reference to the Company’s Secured Net Leverage Ratio (as defined in the Term Loan Credit Agreement) and will range between 7.50 percent and 8.00 percent for SOFR loans and between 6.50 percent and 7.00 percent for Term Base Rate loans. In the event of a payment default under the Term Loan Credit Agreement, past due amounts shall be subject to an additional default interest rate of 2.00 percent. Borrowings under the Revolving Credit Facility bear interest at a rate equal to, at the Company’s option, either (i) SOFR plus 0.10 percent (or, with respect to any borrowings denominated in euros, the adjusted Euro Interbank Offered Rate, “EURIBOR”), with a floor of 0.00 percent per annum or (ii) a base rate (“Revolving Loan Base Rate”), with a floor of 1.00 percent per annum, equal to the highest of (1) the rate of interest in effect as publicly announced by the administrative agent as its prime rate, (2) the NYFRB rate plus 0.50 percent and (3) SOFR for an interest period of one month plus 1.00 percent, in each case, plus the applicable rate. Initially, the applicable rate for the fiscal quarter ending December 31, 2022, is equal to 4.00 percent for SOFR and EURIBOR loans and 3.00 percent for Revolving Base Rate loans. Thereafter, the applicable rate will be determined by reference to the Company’s Secured Net Leverage Ratio (as defined in the Revolving Credit Agreement) and will range between 3.50 percent and 4.50 percent for SOFR and EURIBOR loans and between 2.50 percent and 3.50 percent for Revolving Base Rate loans. The commitment fee for the unused commitment under the Revolving Credit Facility varies between 0.50 percent and 0.625 percent depending on the Company’s Secured Net Leverage Ratio. Commitment fees are included in interest expense. In the event of a payment default under the Revolving Credit Agreement, past due amounts shall be subject to an additional default interest rate of 2.00 percent. Guarantees and Collateral Security Our obligations under the Credit Agreements are unconditionally guaranteed by the Notes Subsidiary Guarantors and certain other domestic and foreign subsidiaries of the Company (collectively, the “SSCF Subsidiary Guarantors”), with customary exceptions including, among other things, where providing such guarantees is not permitted by law, regulation or contract or would result in adverse tax consequences. The guarantees of such obligations, are secured, subject to permitted liens and other exceptions, by substantially all of our assets and the SSCF Subsidiary Guarantors’ assets, including but not limited to: (i) a perfected pledge of all of the capital stock issued by each of the SSCF Subsidiary Guarantors’ (subject to certain exceptions) and (ii) perfected security interests in and mortgages on substantially all tangible and intangible personal property and material fee-owned real property of the Company and the SSCF Subsidiary Guarantors (subject to certain exceptions and exclusions). The Company’s obligations under the Revolving Credit Facility are secured by liens on a super-priority basis ranking ahead of the liens securing the Term Loan Facility. Table of Contents Covenants The Credit Agreements contain a number of restrictive covenants that, among other things, restrict, subject to certain exceptions, our ability to incur additional indebtedness and guarantee indebtedness, create or incur liens, engage in mergers or consolidations, sell, transfer or otherwise dispose of assets, make investments, acquisitions, loans or advances, pay dividends, distributions or other restricted payments, or repurchase our capital stock. The Credit Agreements also restrict our ability to prepay, redeem or repurchase any subordinated indebtedness, enter into agreements which limit our ability to incur liens on our assets or that restrict the ability of restricted subsidiaries to pay dividends or make other restricted payments to us, and enter into certain transactions with our affiliates. The Term Loan Credit Agreement requires the Company to maintain (i) a quarterly Secured Net Leverage Ratio (as defined in the Term Loan Credit Agreement) of no more than 3.50 : 1.00 and (ii) Liquidity (defined as the sum of unrestricted cash and cash equivalent balances and unborrowed commitments under the Revolving Credit Facility) of at least $ 37.5 million (subject to adjustments up to $ 50.0 million following any increase in the commitment under the Revolving Credit Facility). The Revolving Credit Agreement requires the Company to maintain (i) a quarterly Total Net Leverage Ratio (as defined in the Revolving Credit Agreement) of no more than 4.50 : 1.00 ; (ii) a quarterly Secured Net Leverage Ratio (as defined in the Revolving Credit Agreement) of no more than 3.50 : 1.00 ; and (iii) Liquidity of at least $ 37.5 million (subject to adjustments up to $ 50.0 million following any increase in the commitment under the Revolving Credit Facility) but only so long as loans under the Term Loan Facility are outstanding. In the event unrestricted cash and cash equivalent balances fall below $ 37.5 million at any quarter end (or up to a maximum of $ 50.0 million following any increase in borrowings available under the Revolving Credit Facility), the available commitment under the Revolving Credit Facility would be reduced by the amount of any shortfall. The Credit Agreements contain customary default provisions that include among other things: non-payment of principal or interest when due, failure to comply with obligations, covenants or other provisions in the Credit Agreements, any failure of representations and warranties, cross-default under other debt agreements for obligations in excess of $ 20.0 million, insolvency, failure to pay judgments in excess of $ 20.0 million within 60 days of the judicial award, failure to pay any material plan withdrawal obligations under ERISA, invalidity of the loan agreement, invalidity of any security interest in the loan collateral, change of control and failure to maintain the financial covenants. In the event a default occurs, all commitments under the Senior Secured Credit Facilities would be terminated and the lenders would be entitled to declare the principal, premium, if any, and accrued and unpaid interest on all borrowings outstanding to be due and payable. In addition, the Credit Agreements contain customary representations and warranties and other covenants. As of December 31, 2022, the Company was in compliance with all covenants under the Credit Agreements. Available Unused Commitments under the Revolving Credit Facility As of December 31, 2022, the Company had no outstanding borrowings under the Revolving Credit Facility, had outstanding letters of credit of $ 4.8 million and had available unused commitments under the Revolving Credit Facility of $ 55.2 million as of December 31, 2022. At December 31, 2022, unrestricted cash and cash equivalents substantially exceeded the Liquidity requirement and, accordingly, the full commitment was available, less outstanding letters of credit. European Debt In connection with the acquisition of UNIWHEELS AG in 2017, the Company assumed $ 70.7 million of outstanding debt. As of December 31, 2022, $ 3.6 million of the assumed debt remained outstanding. The debt matures March 31, 2024 , and is collateralized by the financed equipment, guaranteed by Superior and bears interest at a rate of 2.2 percent. Covenants under the loan agreement include a default provision for nonpayment, as well as a material adverse change default provision pursuant to which the lender could accelerate the loan maturity. As of December 31, 2022, the Company was in compliance with all covenants under the loan agreement. The balance of certain post-acquisition equipment loans was $ 8.8 m illion as of December 31, 2022. The loans bear interest at 2.3 percent, mature September 30, 2027 and require quarterly principal and interest payments. The loans are secured with liens on the financed equipment and are subject to covenants that, among other things, include a material adverse change default provision pursuant to which the lender could accelerate the loan maturity, as well as a provision that restricts the ability of Superior Europe AG to reduce its ownership interest in Superior Industries Production Germany GmbH, its wholly owned subsidiary and the borrower under the loan. The Company drew down € 10.6 million on these equipment loans in the first quarter of 2020 and drew the remaining € 1.4 million in the first quarter of 2021. Quarterly installment payments o f $ 0.5 million ( € 0.5 million) under the loan agreements began in June of 2021 . As of December 31, 2022, the Company was in compliance with all covenants under the loans. Table of Contents Debt maturities due in the next five years and thereafter are as follows: Debt Maturities Amount (Dollars in thousands) 2023 $ 5,873 2024 3,672 2025 234,728 2026 2,055 2027 1,117 Thereafter 399,998 Total debt liabilities $ 647,443

Redeemable Preferred Stock

Redeemable Preferred Stock	12 Months Ended
	Dec. 31, 2022
Text Block [Abstract]
Redeemable Preferred Stock	NOTE 11 - REDEEMABLE PREFERRED STOCK During 2017, we issued 150,000 shares of Series A ( 140,202 shares) and Series B ( 9,798 shares) Perpetual Convertible Preferred Stock, par value $ 0.01 per share for $ 150.0 million. On August 30, 2017, the Series B shares were converted into Series A redeemable preferred stock (the “redeemable preferred stock”) after approval by our shareholders. The redeemable preferred stock has an initial stated value of $ 1,000 per share, par value of $ 0.01 per share and liquidation preference over common stock. The redeemable preferred stock is convertible into shares of our common stock equal to the number of shares determined by dividing the sum of the stated value and any accrued and unpaid dividends by the conversion price of $ 28.162 . The redeemable preferred stock accrues dividends at a rate of 9 percent per annum, payable at our election either in-kind or in cash and is also entitled to participate in dividends on common stock in an amount equal to that which would have been due had the shares been converted into common stock. We may mandate conversion of the redeemable preferred stock if the price of the common stock exceeds $ 84.49 . The holder may redeem the shares upon the occurrence of any of the following events (referred to as a “redemption event”): a change in control, recapitalization, merger, sale of substantially all of the Company’s assets, liquidation or delisting of the Company’s common stock. In addition, the holder may unconditionally redeem the shares at any time on or after September 14, 2025 . We may, at our option, redeem in whole at any time all of the shares of redeemable preferred stock outstanding. At redemption by either party, the redemption value will be the greater of two times the initial face value ($ 150.0 million) and any accrued unpaid dividends or dividends paid-in-kind, currently $ 300.0 million, or the product of the number of common shares into which the redeemable preferred stock could be converted ( 5.3 million shares currently) and the then current market price of the common stock. Under Delaware law, any redemption payment would be limited to the “surplus” that our Board determines is available to fund a full or partial redemption without rendering us insolvent. We have determined that the conversion option and the redemption option exercisable upon the occurrence of a “redemption event” which are embedded in the redeemable preferred stock must be accounted for separately from the redeemable preferred stock as a derivative liability. Since the redeemable preferred stock may be redeemed at the option of the holder, but is not mandatorily redeemable, the redeemable preferred stock was classified as mezzanine equity and initially recognized at fair value of $ 150.0 million (the proceeds on the date of issuance), less issuance costs of $ 3.7 million and $ 10.9 million assigned to the embedded derivative liability at date of issuance, resulting in an adjusted initial value of $ 135.5 million. The difference between the redemption value of the redeemable preferred stock and the carrying value (the “premium”) is being accreted over the period from the date of issuance through September 14, 2025 using the effective interest method. The accretion is treated as a deemed dividend, recorded as a charge to retained earnings and deducted in computing earnings per share (analogous to the treatment for stated and participating dividends paid on the redeemable preferred shares). The cumulative premium accretion as of December 31, 2022 and 2021 was $ 87.3 million and $ 64.4 million, respectively, resulting in adjusted redeemable preferred stock balances of $ 222.8 million and $ 199.9 million, respectively.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 12 - EA RNINGS PER SHARE Basic earnings per share is computed by dividing net income (loss), after deducting preferred dividends and accretion and European noncontrolling redeemable equity dividends, by the weighted average number of common shares outstanding. For purposes of calculating diluted earnings per share, the weighted average shares outstanding includes the dilutive effect of outstanding stock options and time and performance based restricted stock units under the treasury stock method. The redeemable preferred shares discussed in Note 11, “Redeemable Preferred Stock” (convertible into 5,326 thousand shares) have not been included in the diluted earnings per share because the inclusion of such shares on an as converted basis would be anti-dilutive for the years ended December 31, 2022 and 2021. Year Ended December 31, 2022 2021 (Dollars in thousands, except per share amounts) Basic Earnings Per Share: Net income $ 37,034 $ 3,754 Less: Redeemable preferred stock dividends and accretion ( 36,453 ) ( 34,050 ) Less: European noncontrolling redeemable equity dividend ( 53 ) ( 42 ) Basic numerator $ 528 $ ( 30,338 ) Basic earnings (loss) per share $ 0.02 $ ( 1.17 ) Weighted average shares outstanding – Basic 26,839 25,995 Diluted Earnings Per Share: Net income $ 37,034 $ 3,754 Less: Redeemable preferred stock dividends and accretion ( 36,453 ) ( 34,050 ) Less: European noncontrolling redeemable equity dividend ( 53 ) ( 42 ) Diluted numerator $ 528 $ ( 30,338 ) Diluted earnings (loss) per share $ 0.02 $ ( 1.17 ) Weighted average shares outstanding – Basic 26,839 25,995 Dilutive effect of common share equivalents 751 — Weighted average shares outstanding – Diluted 27,590 25,995

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 13 - INCOME TAXES Income/(loss) before income taxes from domestic and international jurisdictions is comprised of the following: Year Ended December 31, 2022 2021 (Dollars in thousands) Income (loss) before income taxes: Domestic $ ( 22,538 ) $ ( 44,129 ) Foreign 73,676 55,320 $ 51,138 $ 11,191 The benefit/(provision) for income taxes is comprised of the following: Year Ended December 31, 2022 2021 (Dollars in thousands) Current taxes Federal $ ( 1,946 ) $ ( 67 ) State ( 77 ) ( 99 ) Foreign ( 21,345 ) ( 9,229 ) Total current taxes ( 23,368 ) ( 9,395 ) Deferred taxes Federal 275 711 State — — Foreign 8,989 1,247 Total deferred taxes 9,264 1,958 Income tax provision $ ( 14,104 ) $ ( 7,437 ) Table of Contents The following is a reconciliation of the U.S. federal tax rate to our effective income tax rate: Year Ended December 31, 2022 2021 Statutory rate 21.0 % 21.0 % State tax provisions, net of federal income tax benefit 1.7 ( 14.2 ) Tax credits ( 26.4 ) ( 13.2 ) Foreign income taxes at rates other than the statutory rate ( 19.9 ) ( 97.1 ) Valuation allowance 15.6 203.6 Changes in tax liabilities, net 4.9 ( 89.7 ) Share based compensation 3.4 10.9 Unremitted non-U.S. Earnings 2.0 3.6 US tax on non-US income 19.9 16.3 Non-deductible charges 4.1 22.3 Other 1.2 3.0 Effective income tax rate 27.5 % 66.5 % Tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: Year Ended December 31, 2022 2021 (Dollars in thousands) Deferred income tax assets: Accrued liabilities $ 7,220 $ 4,964 Hedging and foreign currency gains (losses) 1,353 9,231 Deferred compensation 6,638 8,162 Inventory reserves 3,895 3,777 Net loss carryforwards and credits 48,774 40,747 Interest carryforwards 23,098 29,366 Intangibles, property, plant and equipment and other 7,865 Competent authority deferred tax assets and 4,915 4,739 Other 946 1,143 Total before valuation allowance 104,704 102,129 Valuation allowance ( 67,626 ) ( 69,388 ) Net deferred income tax assets 37,078 32,741 Deferred income tax liabilities: Intangibles, property, plant and equipment and other ( 4,408 ) Unremitted earnings ( 5,359 ) ( 4,531 ) Deferred income tax liabilities ( 5,359 ) ( 8,939 ) Net deferred income tax assets $ 31,719 $ 23,802 The classification of our net deferred tax asset is shown below: Year Ended December 31, 2022 2021 (Dollars in thousands) Long-term deferred income tax assets $ 35,187 $ 27,715 Long-term deferred income tax liabilities ( 3,468 ) ( 3,913 ) Net deferred tax asset $ 31,719 $ 23,802 Table of Contents As of December 31, 2022, we have cumulative tax effected Germany NOL carryforwards of $ 25.6 million that carryforward indefinitely and U.S. state NOL carryforwards of $ 11.5 million that expire in the years 2023 to 2043 . Also, we have $ 13.9 million of U.S. tax credit carryforwards. The Company continuously evaluates the realizability of our net deferred tax assets. As of December 31, 2022, substantially all our U.S. and certain German deferred tax assets, net of deferred tax liabilities, were subject to valuation allowances. If our financial results continue to improve, our assessment of the realization of our net deferred tax assets could result in the release of some or all the valuation allowances. Such a release would result in a material non-cash income tax benefit in the period of release and the recording of additional deferred tax assets. There is a reasonable possibility that within the next six to eighteen months, sufficient positive evidence becomes available to reach a conclusion that all or a significant portion of the valuation allowances against our U.S. net deferred tax assets would no longer be required. The transition tax substantially eliminated the basis difference on foreign subsidiaries that existed previously for purposes of Accounting Standards Codification topic 740 (“ASC 740”). However, there are limited other taxes that could continue to apply such as foreign withholding and certain state taxes. Provisions are made for income tax liabilities on the undistributed earnings of non-U.S. subsidiaries. A reconciliation of the beginning and ending amounts of uncertain tax positions is as follows: Year Ended December 31, 2022 2021 (Dollars in thousands) Beginning balance $ 16,362 $ 31,858 Increases (decreases) due to foreign currency translations $ ( 712 ) ( 1,192 ) Increases (decreases) as a result of positions Prior periods 10,580 ( 13,633 ) Current period 50 48 Settlements with taxing authorities ( 719 ) Expiration of applicable statutes of limitation ( 180 ) Ending balance $ 26,100 $ 16,362 Our policy regarding interest and penalties related to uncertain tax positions is to record interest and penalties as an element of income tax expense. At the end of 2022 and 2021, the Company had liabilities of $ 6.2 million of potential interest and penalties associated with uncertain tax positions. Included in the unrecognized tax benefits is $ 3.1 million that, if recognized, would favorably affect our annual effective tax rate. Within the next 12-month period we expect a decrease in unrecognized tax benefits as uncertain tax positions begin to expire. Income tax returns are filed in multiple jurisdictions and are subject to examination by tax authorities in various jurisdictions where the Company operates. The Company has open tax years from 2015 to 2021 with various significant tax jurisdictions, including ongoing tax audits in the U.S. for 2015 to 2018 and Germany for 2018 to 2019 . During the examination of our U.S. federal income tax return for tax years 2015-2018, the Internal Revenue Service (IRS) asserted that income earned by a foreign subsidiary from its Mexican branch operations should be categorized as foreign base company sales income (FBCSI) under Section 954(d) of the Internal Revenue Code and issued a Notice of Proposed Adjustment (“NOPA”). We believed that the proposed adjustment was without merit and contested the matter with the IRS administrative appeals office. The IRS administrative appeals office denied our position, however, the final assessment has not been received as of December 31, 2022. At this time, we do not intend to further pursue with litigation and as a result we have recorded the relevant income tax expense and liability, which is not significant.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	NOTE 14 - LEASES The Company determines whether an arrangement is or contains a lease at the inception of the arrangement. Operating leases are accounted for in other noncurrent assets, accrued expenses and other noncurrent liabilities in our consolidated balance sheets. Finance leases are included in property, plant and equipment, net, short-term debt and long-term debt (less current portion) in our consolidated balance sheets. Table of Contents Right-of-use (ROU) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Finance and operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of the lease payments over the lease term. Since we generally do not have access to the interest rate implicit in the lease, the Company uses our incremental borrowing rate (for fully collateralized debt) at the inception of the lease in determining the present value of the lease payments. The implicit rate is, however, used where readily available. Lease expense under operating leases is recognized on a straight-line basis over the term of the lease. Certain of our leases contain both lease and non-lease components, which are accounted for separately. The Company has operating and finance leases for office facilities, a data center and certain equipment. The remaining terms of our leases range from over one year to seven years . Ce rtain leases include options to extend the lease term for up to ten years , as well as options to terminate, both of which have been excluded from the term of the lease since exercise of these options is not reasonably certain. Lease expense, cash flow, operating and finance lease assets and liabilities, average lease term and average discount rate are as follows: Year Ended December 31, 2022 2021 (Dollars in thousands) Lease Expense Finance lease expense: Amortization of right-of-use assets $ 1,040 $ 1,325 Interest on lease liabilities 59 82 Operating lease expense 2,601 3,070 Total lease expense $ 3,700 $ 4,477 Cash Flow Components Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from finance leases $ 59 $ 82 Operating cash outflows from operating leases 2,738 3,460 Financing cash outflows from finance leases 1,062 1,321 Right-of-use assets obtained in exchange for finance lease liabilities, 1,249 922 Right-of-use assets obtained in exchange for operating lease liabilities, 333 416 Year Ended December 31, 2022 2021 (Dollars in thousands, except lease term and discount rate) Balance Sheet Information Operating leases: Other noncurrent assets $ 8,325 $ 10,772 Accrued liabilities $ ( 2,137 ) $ ( 2,371 ) Other noncurrent liabilities ( 6,516 ) ( 8,860 ) Total operating lease liabilities $ ( 8,653 ) $ ( 11,231 ) Finance leases: Property, plant and equipment gross $ 7,899 $ 6,603 Accumulated depreciation ( 5,684 ) ( 4,644 ) Property, plant and equipment, net $ 2,215 $ 1,959 Current portion of long-term debt $ ( 1,053 ) $ ( 982 ) Long-term debt (less current portion) ( 1,673 ) ( 1,629 ) Total finance lease liabilities $ ( 2,726 ) $ ( 2,611 ) Lease Term and Discount Rates Weighted-average remaining lease term - finance leases (years) 3.2 3.4 Weighted-average remaining lease term - operating leases (years) 4.2 5.0 Weighted-average discount rate - finance leases 2.7 % 2.8 % Weighted-average discount rate - operating leases 3.6 % 3.6 % Table of Contents Summarized future minimum payments under our leases are as follows: Year Ended December 31, Amount (Dollars in thousands) Lease Maturities Finance Leases Operating Leases 2023 $ 1,053 $ 2,250 2024 993 2,199 2025 411 2,044 2026 167 1,886 2027 104 870 Thereafter 101 43 Total 2,829 9,292 Less: Imputed interest ( 103 ) ( 639 ) Total lease liabilities, net of interest $ 2,726 $ 8,653

Retirement Plans

Retirement Plans	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Retirement Plans	NOTE 15 - RETIREMENT PLANS We have an unfunded salary continuation plan covering certain directors, officers, and other key members of management. Subject to certain vesting requirements, the plan provides for a benefit based on final average compensation, which becomes payable on the employee’s death or upon attaining age 65 , if retired. The plan was closed to new participants effective February 3, 2011. The following table summarizes the changes in plan assets and plan benefit obligations. Year Ended December 31, 2022 2021 (Dollars in thousands) Change in benefit obligation Beginning benefit obligation $ 31,120 $ 32,640 Interest cost 872 823 Actuarial loss (gain) ( 7,392 ) ( 928 ) Benefit payments ( 1,445 ) ( 1,415 ) Ending benefit obligation $ 23,155 $ 31,120 Table of Contents The actuarial gain in 2022 and 2021 calendar years was due to an increase in the year-over-year discount rate. Year Ended December 31, 2022 2021 (Dollars in thousands) Change in plan assets Fair value of plan assets at beginning of year $ — $ — Employer contribution 1,445 1,415 Benefit payments ( 1,445 ) ( 1,415 ) Fair value of plan assets at end of year $ — $ — Funded status $ ( 23,155 ) $ ( 31,120 ) Amounts recognized in the consolidated Accrued expenses $ ( 1,393 ) $ ( 1,432 ) Other noncurrent liabilities ( 21,762 ) ( 29,688 ) Net amount recognized $ ( 23,155 ) $ ( 31,120 ) Amounts recognized in accumulated other Net actuarial loss $ 1,721 $ 9,446 Prior service cost — ( 1 ) Net amount recognized, before tax effect $ 1,721 $ 9,445 Weighted average assumptions used to Discount rate 5.4 % 2.9 % Rate of compensation increase 3.0 % 3.0 % Components of net periodic pension cost are described in the following table: Year Ended December 31, 2022 2021 (Dollars in thousands) Components of net periodic pension cost: Interest cost $ 872 $ 823 Amortization of actuarial loss 332 386 Net periodic pension cost $ 1,204 $ 1,209 Weighted average assumptions used to determine net Discount rate 2.9 % 2.6 % Rate of compensation increase 3.0 % 3.0 % Benefit payments during the next ten years, which reflect applicable future service, are as follows: Year Ended December 31, Amount (Dollars in thousands) 2023 $ 1,431 2024 1,481 2025 1,693 2026 1,759 2027 1,716 Years 2028 to 2032 8,964 The following is an estimate of the components of net periodic pension cost in 2023: Estimated Year Ended December 31, 2023 (Dollars in thousands) Interest cost $ 1,217 Amortization of actuarial loss — Estimated 2023 net periodic pension cost $ 1,217 Table of Contents Other Retirement Plans We also contribute to employee retirement savings plans in the U.S. and Mexico that cover substantially all of our employees in those countries. The employer contribution totaled $ 1.7 million and $ 1.4 million for the years ended December 31, 2022 and 2021, respectively.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2022
Text Block [Abstract]
Accrued Expenses	NOTE 16 - ACCRUED EXPENSES Year Ended December 31, 2022 2021 (Dollars in thousands) Payroll and related benefits $ 35,076 $ 31,930 Taxes, other than income taxes 15,330 13,973 Deferred tooling revenue 6,251 6,887 Current portion of derivative liability 5,798 5,870 Short-term operating lease liability 2,137 2,371 Dividends and interest 1,532 1,417 Current portion of executive retirement liabilities 1,393 1,432 Professional fees 1,046 687 Other 5,545 6,958 Accrued liabilities $ 74,108 $ 71,525

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	NOTE 17 - STOCK-BASED COMPENSATION Equity Incentive Plan Our 2018 Equity Incentive Plan (the “Plan”) was approved by stockholders in May 2018, authorizing us to issue up to 4.35 million shares of common stock, along with nonqualified stock options, stock appreciation rights, restricted stock and performance restricted stock units to our officers, key employees, nonemployee directors and consultants. In May 2021, the stockholders approved an amendment to the Plan that, among other things, increased the authorized shares by 2 million. At December 31, 2022, there were 0.2 million shares available for future grants under this Plan. It is our policy to issue shares from authorized but not issued shares upon the exercise of stock options. Under the terms of the Plan, each year eligible participants are granted time value restricted stock units (“RSUs”), vesting ratably over a three-year period, and performance restricted stock units (“PSUs”), with three-year cliff vesting. Upon vesting, each restricted stock award is exchangeable for one share of the Company’s common stock, with accrued dividends. The following tables summarize the RSU, PSU and option activity for the year ended December 31, 2022 and 2021: Equity Incentive Awards Restricted Weighted Performance Weighted Options Weighted Balance at January 1, 2022 966,429 $ 4.62 2,484,581 $ 6.67 9,000 $ 16.76 Granted 515,491 3.93 667,345 5.33 — — Settled ( 580,551 ) 4.73 ( 719,659 ) 6.68 — — Forfeited or expired ( 4,570 ) 3.77 ( 109,166 ) 7.24 ( 9,000 ) 16.76 Balance at December 31, 2022 896,799 $ 4.16 2,323,101 $ 6.26 — $ — Awards estimated to vest in the future 896,799 $ 4.16 2,323,101 $ 6.26 — $ — Table of Contents Equity Incentive Awards Restricted Weighted Performance Weighted Options Weighted Balance at January 1, 2021 1,213,667 $ 3.59 2,176,290 $ 4.88 24,000 $ 20.39 Granted 411,291 5.94 653,438 8.41 — — Settled ( 626,004 ) 3.30 ( 193,778 ) 5.45 — — Forfeited or expired ( 32,525 ) 8.13 ( 151,369 ) 12.61 ( 15,000 ) 22.57 Balance at December 31, 2021 966,429 $ 4.62 2,484,581 $ 6.67 9,000 $ 16.76 Awards estimated to vest in the future 939,298 $ 4.67 1,997,713 $ 6.86 9,000 $ 16.76 Stock-based compensation expense was $ 9.7 million and $ 9.5 million for the years ended December 31, 2022 and 2021, respectively. Unrecognized stock-based compensation expense related to nonvested awards of $ 7.3 million is expected to be recognized over a weighted average period of approximately 1.6 y ears.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 18 - COMMITMENTS AND CONTINGENCIES Purchase Commitments When market conditions warrant, we may enter into purchase commitments to secure the supply of certain commodities used in the manufacture of our products, such as aluminum, natural gas and other raw materials. Prices under our aluminum contracts are based on a market index and regional premiums for processing, transportation and alloy components which are adjusted quarterly for purchases in the ensuing quarter. Certain of our purchase agreements include volume commitments, however any excess commitments are generally negotiated with suppliers and those which have occurred in the past have been carried over to future periods. Contingencies We are party to various legal and environmental proceedings incidental to our business. Certain claims, suits and complaints arising in the ordinary course of business have been filed or are pending against us. Based on facts now known, except as provided below, we believe all such matters are adequately provided for, covered by insurance, are without merit and/or involve such amounts that would not materially adversely affect our consolidated results of operations, cash flows or financial position. In March 2022, the German Federal Cartel Office initiated an investigation related to European light alloy wheel manufacturers, including Superior Industries Europe AG (a wholly owned subsidiary of the Company), on suspicion of conduct restricting competition. The Company is cooperating fully with the German Federal Cartel Office. In the event Superior Industries Europe AG is deemed to have violated the applicable statutes, the Company could be subject to a fine or civil proceedings. At this point, we are unable to predict the duration or the outcome of the investigation. The Company purchases electricity and natural gas requirements for its manufacturing operations in Poland from a single energy distributor. Superior and its energy distributor, as well as the parent company of the energy distributor, have filed various claims against one another. These claims generally request the court to determine whether Superior's energy contracts with the energy distributor were valid during the period December 2021 through May 2022. In December 2021, the Company’s energy distributor informed the Company it would no longer supply energy, notwithstanding its contractual obligation to continue supply. Following a request from the Company, the court enjoined the energy distributor from terminating supply to the Company. In February 2022, the Company filed a claim requesting the court affirm the validity of the energy supply agreements, which contained favorable hedged purchase contracts. The energy distributor contested the Company’s validity claims. The energy distributor's parent filed a suit against the Company asserting that the Company's energy contracts were no longer valid and asserting that the Company owed additional amounts for its purchases equal to the excess of market prices over prices set forth in the energy contracts. If the court concludes that the energy contracts were not valid during this period, Superior could be required to pay up to an additional $ 14.0 million for its energy purchases. Any such adverse judgment would be appealed by the Company. A final conclusion in this matter is anticipated to take 18 - 24 months. We have concluded that an unfavorable ruling is not probable and, therefore, we have no t recognized any provision for this contingent loss in our consolidated financial statements as of December 31, 2022. Table of Contents Sales of products to our OEM customers are subject to contracts that involve numerous terms and conditions and incorporate extensive documentation developed throughout the sales and contracting process, including quotes and product specifications. These terms and conditions can be complex and may be subject to differing interpretations, which could result in contractual disputes. In the first quarter of 2023, the Company and one of its OEM customers began assessing whether certain wheels shipped between January 2021 and October 2022 were in conformity with the product specifications. Management’s current assessment is that the wheels shipped meet the customer’s product specifications. However, the customer may conclude differently. Potential outcomes include the customer agreeing with our assessment, entering into a commercial settlement or the provision of replacement wheels. In the event replacement wheels are required, our current estimate to manufacture and install the replacement wheels is approximately $ 11 million. Based upon facts currently known, we have concluded that it is not probable that provision of replacement wheels will be required and, therefore, we have no t recognized any provision for this contingent loss at December 31, 2022. We expect this matter to be resolved within the first half of 2023. Casualty Loss On July 14, 2021, the city of Werdohl, Germany, and surrounding area experienced torrential rains which resulted in extensive flooding. The flooding caused damage to our Werdohl manufacturing facility and production was temporarily halted on July 14, 2021. On July 16, 2021, operations at the facility resumed with the exception of the paint line and certain machining operations, which were brought on-line later in the third quarter. During the year ended December 31, 2021, the Company recognized a net casualty loss of $ 1.5 million which was included in other expense, net. There was only nominal disruption to our ability to fulfill orders and deliver product to our customers due to the expeditious resumption of operations at the facility.

Receivables Factoring

Receivables Factoring	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Receivables Factoring	NOTE 19 - RECEIVABLES FACTORING The Company sells certain customer trade receivables on a nonrecourse basis under factoring arrangements with designated financial institutions. These transactions are accounted for as sales and cash proceeds are included in cash provided by operating activities. Factoring arrangements incorporate customary representations and warranties, including representations as to validity of amounts due, completeness of performance obligations and absence of commercial disputes. During the years ended December 31, 2022 and 2021, the Company sold trade receivables totaling $ 955.1 million and $ 775.6 million, respectively, and incurred factoring fees of $ 3.6 million and $ 2.1 million, respectively. As of December 31, 2022 and December 31, 2021, receivables of $ 97.2 million and $ 97.6 million, respectively, had been factored and had not yet been paid by customers to the respective financial institutions. The collective limit under our factoring arrangements as of December 31, 2022 was $ 150.0 million. The collective limit under our factoring arrangements as of December 31, 2021 was $ 125.1 million.

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring	NOTE 20- RESTRUCTURING During the fourth quarter of 2021, the Company announced a reduction in its workforce at Werdohl, Germany. As a result, the Company recognized a restructuring charge of $ 4.5 million in cost of sales, principally comprised of termination and related benefits. During 2022 we incurred termination costs and related expenses of $ 1.9 million which were charged against the restructuring accrual. As of December 31, 2022, the Company determined that there are no further planned staffing reductions and reversed the remaining accrual and credited cost of sales for $ 2.3 million, the original accrual balance less charges incurred and foreign exchange of $ 0.3 million. During the third quarter of 2019, the Company initiated a plan to significantly reduce production and manufacturing operations at its Fayetteville, Arkansas location, recognizing restructuring expenses of $ 14.8 million in cost of sales. On July 15, 2021, the Company consummated the sale of the Fayetteville facility for an adjusted net sale price of $ 7.1 million, resulting in a gain of $ 4.4 million which has been credited against selling, general and administrative expenses. During the year ended December 31, 2021, we recognized additional charges to cost of sales of $ 2.2 million, principally related to relocation costs for redeployment of machinery and equipment and environmental remediation and repairs required under the sale agreement.

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	VALUATION AND QUAL IFYING ACCOUNTS FOR THE YEARS ENDED DECEMBER 31, 2022 and 2021 (Dollars in thousands) Additions Balance at Charge to Other Deductions Balance at 2022 Allowance for doubtful accounts receivable $ 826 $ ( 122 ) $ — $ ( 43 ) $ 661 Valuation allowances for deferred tax assets $ 69,388 $ 7,779 $ ( 9,541 ) $ — $ 67,626 2021 Allowance for doubtful accounts receivable $ 863 $ 484 $ — $ ( 521 ) $ 826 Valuation allowances for deferred tax assets $ 46,490 $ 23,467 $ ( 569 ) $ — $ 69,388

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations Superior Industries International, Inc.’s (referred to herein as the “Company,” “Superior,” or “we” and “our”) principal business is the design and manufacture of aluminum wheels for sale to original equipment manufacturers (“OEMs”) in North America and Europe and to the aftermarket in Europe. We employ approximately 7,700 full-time employees, operating in eight manufacturing facilities in North America and Europe. We are one of the largest aluminum wheel suppliers to global OEMs and one of the leading European aluminum wheel aftermarket manufacturers and suppliers. Our OEM aluminum wheels accounted for approximately 94 percent of our sales in 2022 and are primarily sold for factory installation on vehicle models manufactured by BMW (including Mini), Ford, GM, Honda, Jaguar-Land Rover, Lucid Motors, Mazda, Mercedes-Benz Group, Nissan, PSA, Renault, Stellantis, Subaru, Suzuki, Toyota, VW Group (Volkswagen, Audi, SEAT, Skoda, Porsche, Bentley) and Volvo. We sell aluminum wheels to the European aftermarket under the brands ATS, RIAL, ALUTEC and ANZIO. North America and Europe represent the principal markets for our products, but we have a diversified global customer base consisting of North American, European and Asian OEMs. We have determined that our North American and European operations should be treated as separate reportable segments as further described in Note 5, “Business Segments.”
Presentation of Consolidated Financial Statements	Presentation of Consolidated Financial Statements The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions are eliminated in consolidation. Accounting estimates are an integral part of the consolidated financial statements. These estimates require the use of judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses in the periods presented. We believe that the accounting estimates employed are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in developing estimates, actual results could differ from the original estimates, requiring adjustments to these balances in future periods.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents generally consist of cash, certificates of deposit, fixed deposits and money market funds with original maturities of three months or less.
Derivative Financial Instruments and Hedging Activities	Derivative Financial Instruments and Hedging Activities Our derivatives are over-the-counter customized derivative instruments and are not exchange traded. We account for our derivative instruments as either assets or liabilities and adjust them to fair value each period. For derivative instruments that hedge the exposure to variability in expected future cash flows that are designated as cash flow hedges, the gain or loss on the derivative instrument is recorded in accumulated other comprehensive income or loss in shareholders’ equity or deficit until the hedged item is recognized in earnings, at which point accumulated gains or losses are recognized in earnings and classified with the underlying hedged transaction. Derivatives that do not qualify or have not been designated as hedges are adjusted to fair value through earnings in the financial statement line item to which the derivative relates (refer to Note 4, “Derivative Financial Instruments” for additional information pertaining to our derivative instruments). We enter into contracts to purchase certain commodities used in the manufacture of our products, such as aluminum, natural gas and electricity. These contracts are considered to be derivative instruments under U.S. GAAP; however, these purchase contracts are not accounted for as derivatives because they qualify for the normal purchase normal sale exemption.
Accounts Receivable	Accounts Receivable Accounts receivable primarily consists of amounts that are due and payable from our customers for the sale of aluminum wheels. We evaluate the collectability of receivables each reporting period and record an allowance for doubtful accounts representing our estimate of probable losses. Additions to the allowance are charged to bad debt expense reported in selling, general and administrative expenses.
Inventory	Inventory Inventories, which are categorized as raw materials, work-in-process or finished goods, are stated at the lower of cost or net realizable value. The cost of inventories is measured using the FIFO (first-in, first-out) method or the average cost method. Inventories are reviewed to determine if inventory quantities are in excess of forecasted usage or if they have become obsolete. Aluminum is the primary material component in our inventories. The Company had three aluminum suppliers in 2022 and two aluminum suppliers in 2021 which individually exceeded 10 percent of total aluminum purchases and, in the aggregate, represented 61.4 percent and 56.2 percent of our total aluminum purchases, respectively.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are carried at cost, less accumulated depreciation. The cost of additions, improvements and interest during construction, if any, are capitalized. Our maintenance and repair costs are charged to expense when incurred. Depreciation is calculated generally on the straight-line method based on the estimated useful lives of the assets. Classification Expected Useful Life Buildings 15 to 50 years Machinery and equipment 3 to 20 years Leasehold Improvements Lease term When property, plant and equipment is replaced, retired or otherwise disposed of, the cost and related accumulated depreciation are removed and any resulting gain or loss on the disposition of an operating asset is included in income or loss from operations and is classified as a part of selling, general and administrative expenses. Any gain or loss on the disposition of a nonoperating asset, as well as any casualty gain or loss, is included in other income or expense.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The carrying amount of long-lived assets to be held and used in the business is evaluated for impairment whenever facts and circumstances suggest that the carrying value of the assets may not be recoverable. An impairment loss occurs when the carrying value of an asset group (including the carrying value of liabilities associated with the long-lived assets within the asset group) exceeds the undiscounted cash flows expected to be realized from the use and eventual disposition of the respective long-lived assets. An asset group is the unit of accounting for a long-lived asset or group of long-lived assets which represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other asset groups. Fair value is determined primarily by discounting the estimated expected cash flows. If the carrying amount of an asset group is impaired, a loss is recognized based on the amount by which the carrying value exceeds fair value. The Company’s asset groups consist of the North American and European reportable segments.
Intangible Assets	Intangible Assets Intangible assets are finite-lived assets consisting of brand names, technology and customer relationships. Finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives (since the pattern in which the asset will be consumed cannot be reliably determined).
Foreign Currency Transactions and Translation	Foreign Currency Transactions and Translation The assets and liabilities of foreign subsidiaries that use local currency as their functional currency are translated to U.S. dollars based on the current exchange rate prevailing at each balance sheet date and any resulting translation adjustments are included in accumulated other comprehensive income or loss. The assets and liabilities of foreign subsidiaries whose local currency is not their functional currency are remeasured from their local currency to their functional currency and then translated to U.S. dollars. Revenues and expenses are translated into U.S. dollars using the average exchange rates prevailing for each period presented. Gains and losses arising from foreign currency transactions and the effects of remeasurement discussed in the preceding paragraph are recorded in other income or expense. We recognized foreign currency transaction and remeasurement gains of $ 1.35 million and $ 0.3 million in 2022 and 2021, respectively.
Revenue Recognition	Revenue Recognition Revenue is recognized when performance obligations under our contracts are satisfied. Generally, this occurs upon shipment when control of products transfers to our customers. At this point, revenue is recognized in an amount reflecting the consideration we expect to be entitled to under the terms of our contract. The Company maintains long-term business relationships with our OEM customers and aftermarket distributors; however, there are no definitive long-term volume commitments under these arrangements. Volume commitments are limited to near-term customer requirements authorized under purchase orders or production releases generally with delivery periods of approximately one month. Sales do not involve any significant financing component since customer payment is generally due 40-60 days after shipment. Contract assets and liabilities consist of customer receivables and deferred revenues related to tooling. At contract inception, the Company assesses goods and services promised in its contracts with customers and identifies a performance obligation for each promise to deliver a good or service (or bundle of goods or services) that is distinct. Principal performance obligations under our customer contracts consist of the manufacture and delivery of aluminum wheels, including production wheels, service wheels and replacement wheels. As a part of the manufacture of the wheels, we develop tooling necessary to produce the wheels. Accordingly, tooling costs, which are explicitly recoverable from our customers, are capitalized as preproduction costs and amortized to cost of sales over the average life of the vehicle wheel program. Similarly, customer reimbursement for tooling costs is deferred and amortized to net sales over the average life of the vehicle wheel program. In the normal course of business, the Company’s warranties are limited to product specifications and the Company does not accept product returns unless the item is defective as manufactured. Accordingly, warranty costs are treated as a cost of fulfillment subject to accrual, rather than a performance obligation. The Company establishes provisions for both estimated returns and warranty when revenue is recognized. In addition, the Company does not typically provide customers with the right to a refund but provides for product replacement. Prices allocated to production, service and replacement wheels are based on prices established in our customer purchase orders which represent the standalone selling price. Prices for service and replacement wheels are commensurate with production wheels with adjustment for any special packaging. In addition, prices are subject to adjustment for changes in commodity prices for aluminum, alloy premium and silicon, as well as production efficiencies and wheel weight variations from specifications used in pricing. These price adjustments are treated as variable consideration. Customer tooling reimbursement is generally based on quoted prices or cost not to exceed quoted prices. We estimate variable consideration by using the “most likely” amount estimation approach. For commodity prices, initial estimates are based on the commodity index at contract inception. Changes in commodity prices are monitored and revenue is adjusted as changes in the commodity index occur. Prices incorporate the wheel weight price component based on product specifications. Weights are monitored, and prices are adjusted as variations arise. In North America OEM price adjustments due to manufacturing efficiencies are generally recognized as and when negotiated with customers. Contracts with European OEMs generally include annual price reductions based on expected manufacturing efficiencies over the life of the vehicle wheel program which are accrued as revenue is recognized. Customer contract prices are generally adjusted quarterly to incorporate price adjustments. Under the Company’s policies, shipping costs are treated as a cost of fulfillment. In addition, the Company does not disclose remaining performance obligations under its contracts since contract terms are substantially less than a year (generally less than one month). Our revenue recognition practices and related transactions and balances are further described in Note 2, “Revenue.”
Stock-Based Compensation	Stock-Based Compensation We account for stock-based compensation using the estimated fair value recognition method. We recognize these compensation costs on a straight-line basis over the requisite service period of the award, which is generally the vesting term of three years. Refer to Note 17, “Stock-Based Compensation” for additional information concerning our stock-based compensation awards.
Income Taxes	Income Taxes We account for income taxes using the asset and liability method. The asset and liability method requires the recognition of deferred tax assets and liabilities for expected future tax consequences of temporary differences that currently exist between the tax basis and financial reporting basis of our assets and liabilities. We calculate current and deferred tax provisions based on estimates and assumptions that could differ from actual results reflected on the income tax returns filed during the following years. Adjustments based on filed returns are recorded when identified in the subsequent years. The effect on deferred taxes of a change in tax rates is recognized in income in the period that the tax rate change is enacted. The ability to realize deferred tax assets depends on the ability to generate sufficient taxable income in the future. A valuation allowance is provided for deferred income tax assets when, in our judgment, based upon currently available information and other factors, it is more likely than not that all or a portion of such deferred income tax assets will not be realized. The assessment regarding whether a valuation allowance is required or should be adjusted is based on an evaluation of possible sources of taxable income and considers all available positive and negative evidence factors. Our accounting for the valuation of deferred tax assets represents our best estimate of future events. We believe that the determination to record a valuation allowance to reduce a deferred income tax asset is a significant accounting estimate because it is based, among other things, on an estimate of taxable income, which is susceptible to change and may or may not occur, and because the impact of adjusting a valuation allowance may be material. In determining when to release the valuation allowance established against our net deferred income tax assets, we consider all available evidence, both positive and negative. We account for uncertain tax positions utilizing a two-step approach to evaluate tax positions. Step one, recognition, requires evaluation of the tax position to determine if based solely on technical merits it is more likely than not to be sustained upon examination. Step two, measurement, is addressed only if a position is more likely than not to be sustained. In step two, the tax benefit is measured as the largest amount of benefit, determined on a cumulative probability basis, which is more likely than not to be realized upon ultimate settlement with tax authorities. If a position does not meet the more likely than not threshold for recognition in step one, no benefit is recorded until the first subsequent period in which the more likely than not standard is met, the issue is resolved with the taxing authority, or the statute of limitations expires. Positions previously recognized are derecognized when we subsequently determine the position no longer is more likely than not to be sustained. Evaluation of tax positions, their technical merits, and measurements using cumulative probability are highly subjective management estimates. Actual results could differ materially from these estimates. In 2022 and 2021, we have provided deferred income taxes for the estimated U.S. federal and state income tax, foreign income tax and applicable withholding taxes on unremitted earnings of subsidiaries.
Cash Paid for Interest and Taxes and Non-Cash Investing Activities	Cash Paid for Interest and Taxes and Noncash Investing Activities Cash paid for interest was $ 38.2 million and $ 36.7 million, respectively, for the years ended December 31, 2022 and 2021. Cash paid for income taxes was $ 8.0 million and $ 10.5 million for the years ended December 31, 2022 and 2021, respectively. As of December 31, 2022 and 2021, we had purchased but not yet paid for equipment of $ 9.3 million and $ 11.2 million, respectively, which are included in accounts payable and accrued expenses in our consolidated balance sheets.
Adoption of New Accounting Standards and Accounting Standards Issued but Not Yet Adopted	Adoption of New Accounting Standards ASU 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance.” As of January 1, 2022, we adopted this standard on a prospective basis. The standard requires entities to disclose information about any transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. Disclosures under ASU 2021-10 include: information about the nature of the transactions and the related accounting policy used to account for the transactions, the financial statement line items affected by the transactions, the amounts applicable to each financial statement line item and significant terms and conditions of the transactions, including commitments and contingencies. The adoption of this accounting standard did not have a material effect on our financial statements or disclosures since we have not received any significant governmental assistance. Table of Contents Accounting Standards Issued But Not Yet Adopted Accounting Standards Update (ASU) 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” In June 2016, the Financial Accounting Standards Board issued ASU 2016-13 which requires entities to use a new impairment model based on current expected credit losses (“CECL”) rather than incurred losses. Under CECL, estimated credit losses would incorporate relevant information about past events, current conditions and reasonable and supportable forecasts and any expected credit losses would be recognized at the end of the period. As a smaller reporting company (as defined under SEC regulations), the Company is required to adopt the standard January 1, 2023. We do not expect that adoption of the standard will result in any cumulative adjustment nor have any material effect on our financial statements or disclosures since our credit losses have been (and are expected to remain) immaterial due to the financial strength of our OEM customers and the relatively short term nature of our contractual terms with our OEM and aftermarket customers. Accounting Standards Update (ASU) 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” In September 2022, the Financial Accounting Standards Board issued ASU 2022-04 which requires that a buyer in a supplier finance program disclose the key terms of the program, including a description of the payment terms. For the obligations that the buyer has confirmed as valid to the finance provider or intermediary, the buyer must disclose: the amount outstanding that remains unpaid by the buyer as of the end of each year, a description of where those obligations are presented in the balance sheet and a rollforward of those obligations during the year, including the amount of obligations confirmed and the amount of obligations subsequently paid. This standard becomes effective for fiscal years beginning January 1, 2023, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. In adopting this standard, disclosures currently included in management's discussion and analysis regarding supply chain financing will be incorporated into the notes to the consolidated financial statements along with disclosure of payment terms under the program, as well as a roll forward of the amounts owed to the financial institution which has discounted supplier receivables.
Fair Value Measurements	The Company applies fair value accounting for all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis, while other assets and liabilities are measured at fair value on a nonrecurring basis, such as an asset impairment. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability. The carrying amounts for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short period of time until maturity.
Derivatives, Methods of Accounting, Hedging Derivatives	We use derivatives to partially offset our exposure to foreign currency, interest rate, aluminum and other commodity price risks. We may enter into forward contracts, option contracts, swaps, collars or other derivative instruments to offset some of the risk on expected future cash flows and on certain existing assets and liabilities. However, we may choose not to hedge certain exposures for a variety of reasons including, but not limited to, accounting considerations and the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will fully offset the financial impact resulting from movements in foreign currency exchange rates, interest rates, and aluminum or other commodity prices. To help mitigate gross margin and cash flow fluctuations due to changes in foreign currency exchange rates, certain of our subsidiaries, whose functional currency is the U.S. dollar or the Euro, hedge a portion of their forecasted foreign currency costs denominated in the Mexican Peso and Polish Zloty, respectively. We may hedge portions of our forecasted foreign currency exposure up to 48 months . We account for our derivative instruments as either assets or liabilities and adjust them to fair value each period. For derivative instruments that hedge the exposure to variability in expected future cash flows and are designated as cash flow hedges, the gain or loss on the derivative instrument is recorded in accumulated other comprehensive income (“AOCI”) or loss in shareholders’ equity or deficit until the hedged item is recognized in earnings, at which point accumulated gains or losses are recognized in earnings and classified with the underlying hedged transaction. Derivatives that do not qualify or have not been designated as hedges are adjusted to fair value through earnings in the financial statement line item to which the derivative relates.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Estimated Useful Lives of the Assets	Classification Expected Useful Life Buildings 15 to 50 years Machinery and equipment 3 to 20 years Leasehold Improvements Lease term

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of Opening and Closing Balances of Company's Receivables and Current and Long-term Contract Liabilities	The opening and closing balances of the Company’s receivables and current and long-term contract liabilities are as follows: December 31, December 31, Change (Dollars in thousands) Customer receivables $ 63,565 $ 74,887 $ ( 11,322 ) Contract liabilities—current 6,251 6,887 ( 636 ) Contract liabilities—noncurrent 8,355 10,526 ( 2,171 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Summary of Items Measured at Fair Value	The following tables categorize items measured at fair value at December 31, 2022 and 2021: Fair Value Measurement at Reporting Date Using December 31, 2022 Quoted Prices in Significant Significant (Dollars in thousands) Assets Derivative contracts $ 34,960 $ — $ 34,960 $ — Total $ 34,960 $ — $ 34,960 $ — Liabilities . Derivative contracts $ 11,780 $ — $ 11,780 $ — Total $ 11,780 $ — $ 11,780 $ — Fair Value Measurement at Reporting Date Using December 31, 2021 Quoted Prices in Significant Significant (Dollars in thousands) Assets Derivative contracts $ 10,362 $ — $ 10,362 $ — Total $ 10,362 $ — $ 10,362 $ — Liabilities . Derivative contracts $ 19,711 $ — $ 19,711 $ — Total $ 19,711 $ — $ 19,711 $ —
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The estimated fair value, as well as the carrying value, of the Company’s debt instruments are shown below: December 31, December 31, (Dollars in thousands) Estimated aggregate fair value $ 615,394 $ 605,874 Aggregate carrying value (1) 647,443 616,215 (1) Total debt excluding the impact of unamortized debt issuance costs.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Derivatives by Balance Sheet Line Item	December 31, 2022 Other Other Accrued Other (Dollars in thousands) Foreign exchange forward contracts designated as $ 11,210 $ 15,890 $ 2,873 $ 5,212 Foreign exchange forward contracts not 603 — 192 — Aluminum forward contracts designated as — — 1,213 — Natural gas forward contracts designated as 498 655 1,520 770 Interest rate swap contracts designated as hedging 4,112 1,992 — — Total derivative financial instruments $ 16,423 $ 18,537 $ 5,798 $ 5,982 Table of Contents December 31, 2021 Other Other Accrued Other (Dollars in thousands) Foreign exchange forward contracts designated as $ 3,161 $ 2,194 $ 1,845 $ 13,565 Foreign exchange forward contracts not 579 — 3 — Aluminum forward contracts designated as 2,677 39 — — Natural gas forward contracts designated as 1,294 418 135 276 Interest rate swap contracts designated as hedging — — 3,887 — Total derivative financial instruments $ 7,711 $ 2,651 $ 5,870 $ 13,841
Summary of Notional Amount and Estimated Fair Value of Derivative Financial Instruments	The following table summarizes the notional amount and estimated fair value of our derivative financial instruments: December 31, 2022 December 31, 2021 Notional Fair Notional Fair (Dollars in thousands) Foreign exchange forward contracts designated as $ 462,783 $ 19,015 $ 458,769 $ ( 10,055 ) Foreign exchange forward contracts not designated 39,726 411 24,419 576 Aluminum forward contracts designated as 9,495 ( 1,213 ) 37,609 2,716 Natural gas forward contracts designated as hedging 13,500 ( 1,137 ) 8,915 1,301 Interest rate swap contracts designated as hedging 250,000 6,104 200,000 ( 3,887 ) Total derivative financial instruments $ 775,504 $ 23,180 $ 729,712 $ ( 9,349 ) Notional amounts are presented on a net basis. The notional amounts of the derivative financial instruments do not represent amounts exchanged by the parties and, therefore, are not a direct measure of our exposure to the financial risks described above. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives, such as interest rates, foreign currency exchange rates or commodity prices.
Summary of Gain or Loss Recognized in Accumulated Other Comprehensive Income or Loss	The following tables summarize the gain or loss recognized in accumulated other comprehensive income or loss (“AOCI”), the amounts reclassified from AOCI into earnings, and the amounts recognized directly into earnings for the years ended December 31, 2022 and 2021: Year Ended December 31, 2022 Amount of Gain or Amount of Pre-tax Amount of Pre-tax (Dollars in thousands) Derivative contracts $ 28,895 $ 14,962 $ 2,074 Year Ended December 31, 2021 Amount of Gain or Amount of Pre-tax Amount of Pre-tax (Dollars in thousands) Derivative contracts $ ( 7,313 ) $ 4,106 $ ( 1,047 ) Table of Contents

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Summary of Net Sales and Results of Operations and Total Assets by Reportable Segment	Net Sales Income from Operations Year Ended December 31, 2022 2021 2022 2021 (Dollars in thousands) North America $ 943,713 $ 744,904 $ 71,772 $ 50,798 Europe 696,189 639,846 26,268 4,578 $ 1,639,902 $ 1,384,750 $ 98,040 $ 55,376 Depreciation and Amortization Capital Expenditures Year Ended December 31, 2022 2021 2022 2021 (Dollars in thousands) North America $ 36,301 $ 36,243 $ 39,265 $ 30,005 Europe 54,871 63,392 17,892 34,108 $ 91,172 $ 99,635 $ 57,157 $ 64,113 Property, Plant and Equipment, net Intangible Assets Year Ended December 31, 2022 2021 2022 2021 (Dollars in thousands) North America $ 220,321 $ 214,331 $ — $ — Europe 253,639 280,070 51,497 76,870 $ 473,960 $ 494,401 $ 51,497 $ 76,870 Total Assets Year Ended December 31, 2022 2021 (Dollars in thousands) North America $ 582,339 $ 499,988 Europe 551,400 554,159 $ 1,133,739 $ 1,054,147 Geographic information See table below for our net sales and long-lived assets by location: Net Sales Property, Plant and Equipment, net Year Ended December 31, 2022 2021 2022 2021 (Dollars in thousands) U.S. $ 5,574 $ 8,166 $ 1,476 $ 2,152 Mexico 938,139 736,738 218,845 212,179 Germany 203,979 227,887 76,158 76,849 Poland 492,210 411,959 177,481 203,221 $ 1,639,902 $ 1,384,750 $ 473,960 $ 494,401

Accounts Receivable (Tables)

Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Summary of Accounts Receivable	Year Ended December 31, 2022 2021 (Dollars in thousands) Trade receivables $ 64,225 $ 75,713 Other receivables 9,161 8,560 73,386 84,273 Allowance for doubtful accounts ( 661 ) ( 826 ) Accounts receivable, net $ 72,725 $ 83,447 Table of Contents
Schedule of Revenues by Major Customers	2022 2021 GM 26 % 26 % Ford 16 % 13 % VW Group 14 % 14 %

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Summary of Inventories	Year Ended December 31, 2022 2021 (Dollars in thousands) Raw materials $ 62,639 $ 47,392 Work in process 37,993 54,891 Finished goods 78,056 69,816 Inventories, net $ 178,688 $ 172,099

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	December 31, December 31, (Dollars in thousands) Land and buildings $ 144,870 $ 129,826 Machinery and equipment 887,222 861,097 Leasehold improvements and others 4,993 9,831 Construction in progress 80,263 67,529 1,117,348 1,068,283 Accumulated depreciation ( 643,388 ) ( 573,882 ) Property, plant and equipment, net $ 473,960 $ 494,401

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Finite-Lived Intangible Assets	The Company’s finite-lived intangible assets as of December 31, 2022 and December 31, 2021 are summarized in the following table. Year Ended December 31, 2022 Gross Accumulated Currency Net Carrying Amount Remaining (Dollars in thousands) Brand name $ 9,000 $ ( 9,134 ) $ 134 $ — — Technology 15,000 ( 15,222 ) 222 — — Customer relationships 167,000 ( 114,595 ) ( 908 ) 51,497 1 - 6 Total finite-lived intangibles $ 191,000 $ ( 138,951 ) $ ( 552 ) $ 51,497 Table of Contents Year Ended December 31, 2021 Gross Accumulated Currency Net Carrying Amount Remaining (Dollars in thousands) Brand name $ 9,000 $ ( 8,503 ) $ 258 $ 755 1 - 2 Technology 15,000 ( 14,172 ) 430 $ 1,258 2 Customer relationships 167,000 ( 95,540 ) 3,397 $ 74,857 2 - 7 Total finite-lived intangibles $ 191,000 $ ( 118,215 ) $ 4,085 $ 76,870

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Summary of Long-Term Debt and Related Weighted Average Interest Rates	A summary of long-term debt and the related weighted average interest rates is shown below: December 31, 2022 Debt Instrument Total Debt Discount and (1) Total Weighted Average (Dollars in thousands) Term Loan Facility $ 400,000 $ ( 22,967 ) $ 377,033 12.3 % 6.00 % Senior Notes 232,352 ( 2,458 ) 229,894 6.0 % European CapEx loans 12,365 — 12,365 2.3 % Finance leases 2,726 — 2,726 2.7 % $ 647,443 $ ( 25,425 ) 622,018 Less: Current portion ( 5,873 ) Long-term debt $ 616,145 December 31, 2021 Debt Instrument Total Debt Issuance (1) Total Weighted Average (Dollars in thousands) Term Loan Facility $ 349,200 $ ( 4,338 ) $ 344,862 4.1 % 6.00 % Senior Notes 245,809 ( 3,441 ) 242,368 6.0 % European CapEx loans 18,595 — 18,595 2.3 % Finance leases 2,611 — 2,611 2.8 % $ 616,215 $ ( 7,779 ) 608,436 Less: Current portion ( 6,081 ) Long-term debt $ 602,355 (1) Unamortized portion
Schedule of Debt Maturities	Debt maturities due in the next five years and thereafter are as follows: Debt Maturities Amount (Dollars in thousands) 2023 $ 5,873 2024 3,672 2025 234,728 2026 2,055 2027 1,117 Thereafter 399,998 Total debt liabilities $ 647,443

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Year Ended December 31, 2022 2021 (Dollars in thousands, except per share amounts) Basic Earnings Per Share: Net income $ 37,034 $ 3,754 Less: Redeemable preferred stock dividends and accretion ( 36,453 ) ( 34,050 ) Less: European noncontrolling redeemable equity dividend ( 53 ) ( 42 ) Basic numerator $ 528 $ ( 30,338 ) Basic earnings (loss) per share $ 0.02 $ ( 1.17 ) Weighted average shares outstanding – Basic 26,839 25,995 Diluted Earnings Per Share: Net income $ 37,034 $ 3,754 Less: Redeemable preferred stock dividends and accretion ( 36,453 ) ( 34,050 ) Less: European noncontrolling redeemable equity dividend ( 53 ) ( 42 ) Diluted numerator $ 528 $ ( 30,338 ) Diluted earnings (loss) per share $ 0.02 $ ( 1.17 ) Weighted average shares outstanding – Basic 26,839 25,995 Dilutive effect of common share equivalents 751 — Weighted average shares outstanding – Diluted 27,590 25,995

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income (Loss) Before Income Taxes From Domestic and International Jurisdictions	Income/(loss) before income taxes from domestic and international jurisdictions is comprised of the following: Year Ended December 31, 2022 2021 (Dollars in thousands) Income (loss) before income taxes: Domestic $ ( 22,538 ) $ ( 44,129 ) Foreign 73,676 55,320 $ 51,138 $ 11,191
Benefit (Provision) for Income Taxes	The benefit/(provision) for income taxes is comprised of the following: Year Ended December 31, 2022 2021 (Dollars in thousands) Current taxes Federal $ ( 1,946 ) $ ( 67 ) State ( 77 ) ( 99 ) Foreign ( 21,345 ) ( 9,229 ) Total current taxes ( 23,368 ) ( 9,395 ) Deferred taxes Federal 275 711 State — — Foreign 8,989 1,247 Total deferred taxes 9,264 1,958 Income tax provision $ ( 14,104 ) $ ( 7,437 )
Reconciliation of the U.S. Federal Tax Rate	The following is a reconciliation of the U.S. federal tax rate to our effective income tax rate: Year Ended December 31, 2022 2021 Statutory rate 21.0 % 21.0 % State tax provisions, net of federal income tax benefit 1.7 ( 14.2 ) Tax credits ( 26.4 ) ( 13.2 ) Foreign income taxes at rates other than the statutory rate ( 19.9 ) ( 97.1 ) Valuation allowance 15.6 203.6 Changes in tax liabilities, net 4.9 ( 89.7 ) Share based compensation 3.4 10.9 Unremitted non-U.S. Earnings 2.0 3.6 US tax on non-US income 19.9 16.3 Non-deductible charges 4.1 22.3 Other 1.2 3.0 Effective income tax rate 27.5 % 66.5 %
Summary of Deferred Income Tax Assets and Liabilities	Tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: Year Ended December 31, 2022 2021 (Dollars in thousands) Deferred income tax assets: Accrued liabilities $ 7,220 $ 4,964 Hedging and foreign currency gains (losses) 1,353 9,231 Deferred compensation 6,638 8,162 Inventory reserves 3,895 3,777 Net loss carryforwards and credits 48,774 40,747 Interest carryforwards 23,098 29,366 Intangibles, property, plant and equipment and other 7,865 Competent authority deferred tax assets and 4,915 4,739 Other 946 1,143 Total before valuation allowance 104,704 102,129 Valuation allowance ( 67,626 ) ( 69,388 ) Net deferred income tax assets 37,078 32,741 Deferred income tax liabilities: Intangibles, property, plant and equipment and other ( 4,408 ) Unremitted earnings ( 5,359 ) ( 4,531 ) Deferred income tax liabilities ( 5,359 ) ( 8,939 ) Net deferred income tax assets $ 31,719 $ 23,802 The classification of our net deferred tax asset is shown below: Year Ended December 31, 2022 2021 (Dollars in thousands) Long-term deferred income tax assets $ 35,187 $ 27,715 Long-term deferred income tax liabilities ( 3,468 ) ( 3,913 ) Net deferred tax asset $ 31,719 $ 23,802
Schedule of Unrecognized Tax Positions Roll Forward	Year Ended December 31, 2022 2021 (Dollars in thousands) Beginning balance $ 16,362 $ 31,858 Increases (decreases) due to foreign currency translations $ ( 712 ) ( 1,192 ) Increases (decreases) as a result of positions Prior periods 10,580 ( 13,633 ) Current period 50 48 Settlements with taxing authorities ( 719 ) Expiration of applicable statutes of limitation ( 180 ) Ending balance $ 26,100 $ 16,362

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Lease Expense, Cash Flow, Operating and Finance Lease Assets and Liabilities, Average Lease Term and Average Discount Rate	Lease expense, cash flow, operating and finance lease assets and liabilities, average lease term and average discount rate are as follows: Year Ended December 31, 2022 2021 (Dollars in thousands) Lease Expense Finance lease expense: Amortization of right-of-use assets $ 1,040 $ 1,325 Interest on lease liabilities 59 82 Operating lease expense 2,601 3,070 Total lease expense $ 3,700 $ 4,477 Cash Flow Components Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from finance leases $ 59 $ 82 Operating cash outflows from operating leases 2,738 3,460 Financing cash outflows from finance leases 1,062 1,321 Right-of-use assets obtained in exchange for finance lease liabilities, 1,249 922 Right-of-use assets obtained in exchange for operating lease liabilities, 333 416 Year Ended December 31, 2022 2021 (Dollars in thousands, except lease term and discount rate) Balance Sheet Information Operating leases: Other noncurrent assets $ 8,325 $ 10,772 Accrued liabilities $ ( 2,137 ) $ ( 2,371 ) Other noncurrent liabilities ( 6,516 ) ( 8,860 ) Total operating lease liabilities $ ( 8,653 ) $ ( 11,231 ) Finance leases: Property, plant and equipment gross $ 7,899 $ 6,603 Accumulated depreciation ( 5,684 ) ( 4,644 ) Property, plant and equipment, net $ 2,215 $ 1,959 Current portion of long-term debt $ ( 1,053 ) $ ( 982 ) Long-term debt (less current portion) ( 1,673 ) ( 1,629 ) Total finance lease liabilities $ ( 2,726 ) $ ( 2,611 ) Lease Term and Discount Rates Weighted-average remaining lease term - finance leases (years) 3.2 3.4 Weighted-average remaining lease term - operating leases (years) 4.2 5.0 Weighted-average discount rate - finance leases 2.7 % 2.8 % Weighted-average discount rate - operating leases 3.6 % 3.6 %
Schedule of Future Minimum Rental Payments Under Finance and Operating Leases	Summarized future minimum payments under our leases are as follows: Year Ended December 31, Amount (Dollars in thousands) Lease Maturities Finance Leases Operating Leases 2023 $ 1,053 $ 2,250 2024 993 2,199 2025 411 2,044 2026 167 1,886 2027 104 870 Thereafter 101 43 Total 2,829 9,292 Less: Imputed interest ( 103 ) ( 639 ) Total lease liabilities, net of interest $ 2,726 $ 8,653

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Summary of Changes in Plan Assets and Plan Benefit Obligations	The following table summarizes the changes in plan assets and plan benefit obligations. Year Ended December 31, 2022 2021 (Dollars in thousands) Change in benefit obligation Beginning benefit obligation $ 31,120 $ 32,640 Interest cost 872 823 Actuarial loss (gain) ( 7,392 ) ( 928 ) Benefit payments ( 1,445 ) ( 1,415 ) Ending benefit obligation $ 23,155 $ 31,120
Summary of Defined Benefit Plans	Year Ended December 31, 2022 2021 (Dollars in thousands) Change in plan assets Fair value of plan assets at beginning of year $ — $ — Employer contribution 1,445 1,415 Benefit payments ( 1,445 ) ( 1,415 ) Fair value of plan assets at end of year $ — $ — Funded status $ ( 23,155 ) $ ( 31,120 ) Amounts recognized in the consolidated Accrued expenses $ ( 1,393 ) $ ( 1,432 ) Other noncurrent liabilities ( 21,762 ) ( 29,688 ) Net amount recognized $ ( 23,155 ) $ ( 31,120 ) Amounts recognized in accumulated other Net actuarial loss $ 1,721 $ 9,446 Prior service cost — ( 1 ) Net amount recognized, before tax effect $ 1,721 $ 9,445 Weighted average assumptions used to Discount rate 5.4 % 2.9 % Rate of compensation increase 3.0 % 3.0 %
Summary of Components of Net Periodic Pension Cost	Components of net periodic pension cost are described in the following table: Year Ended December 31, 2022 2021 (Dollars in thousands) Components of net periodic pension cost: Interest cost $ 872 $ 823 Amortization of actuarial loss 332 386 Net periodic pension cost $ 1,204 $ 1,209 Weighted average assumptions used to determine net Discount rate 2.9 % 2.6 % Rate of compensation increase 3.0 % 3.0 %
Summary of Expected Benefit Payments	Benefit payments during the next ten years, which reflect applicable future service, are as follows: Year Ended December 31, Amount (Dollars in thousands) 2023 $ 1,431 2024 1,481 2025 1,693 2026 1,759 2027 1,716 Years 2028 to 2032 8,964
Periodic Pension Cost, Next Fiscal Year	The following is an estimate of the components of net periodic pension cost in 2023: Estimated Year Ended December 31, 2023 (Dollars in thousands) Interest cost $ 1,217 Amortization of actuarial loss — Estimated 2023 net periodic pension cost $ 1,217

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Text Block [Abstract]
Schedule of Accrued Liabilities	Year Ended December 31, 2022 2021 (Dollars in thousands) Payroll and related benefits $ 35,076 $ 31,930 Taxes, other than income taxes 15,330 13,973 Deferred tooling revenue 6,251 6,887 Current portion of derivative liability 5,798 5,870 Short-term operating lease liability 2,137 2,371 Dividends and interest 1,532 1,417 Current portion of executive retirement liabilities 1,393 1,432 Professional fees 1,046 687 Other 5,545 6,958 Accrued liabilities $ 74,108 $ 71,525

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Summary of RSU, PSU and Option Activity	The following tables summarize the RSU, PSU and option activity for the year ended December 31, 2022 and 2021: Equity Incentive Awards Restricted Weighted Performance Weighted Options Weighted Balance at January 1, 2022 966,429 $ 4.62 2,484,581 $ 6.67 9,000 $ 16.76 Granted 515,491 3.93 667,345 5.33 — — Settled ( 580,551 ) 4.73 ( 719,659 ) 6.68 — — Forfeited or expired ( 4,570 ) 3.77 ( 109,166 ) 7.24 ( 9,000 ) 16.76 Balance at December 31, 2022 896,799 $ 4.16 2,323,101 $ 6.26 — $ — Awards estimated to vest in the future 896,799 $ 4.16 2,323,101 $ 6.26 — $ — Table of Contents Equity Incentive Awards Restricted Weighted Performance Weighted Options Weighted Balance at January 1, 2021 1,213,667 $ 3.59 2,176,290 $ 4.88 24,000 $ 20.39 Granted 411,291 5.94 653,438 8.41 — — Settled ( 626,004 ) 3.30 ( 193,778 ) 5.45 — — Forfeited or expired ( 32,525 ) 8.13 ( 151,369 ) 12.61 ( 15,000 ) 22.57 Balance at December 31, 2021 966,429 $ 4.62 2,484,581 $ 6.67 9,000 $ 16.76 Awards estimated to vest in the future 939,298 $ 4.67 1,997,713 $ 6.86 9,000 $ 16.76

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) Employee ManufacturingFacility	Dec. 31, 2021 USD ($)
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Number of employees | Employee	7,700
Number of manufacturing facilities | ManufacturingFacility	8
Recognized foreign currency transaction and remeasurement gains, before tax	$ 1,350	$ 300
Cash paid for interest	38,200	36,700
Cash paid for income taxes	8,000	10,500
Noncash or part noncash acquisition, fixed assets acquired	$ 9,300	$ 11,200
Sales [Member] | Customer Concentration Risk [Member] | Original Equipment Manufacturers (OEMs) [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Concentration risk, percentage	94%
Aluminum Purchases [Member] | Supplier Concentration Risk [Member] | Inventory [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Concentration risk, percentage	61.40%	56.20%
Vendors accounting for more than ten percent of aluminum purchases	3	2

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Estimated Useful Lives of the Assets. (Detail)	12 Months Ended
	Dec. 31, 2022
Minimum [Member] | Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	15 years
Minimum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	3 years
Minimum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	Lease term
Maximum [Member] | Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	50 years
Maximum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	20 years

Revenue - Summary of Opening an

Revenue - Summary of Opening and Closing Balances of Company's Receivables and Current and Long-term Contract Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Contract With Customer Asset And Liability [Line Items]
Customer receivables	$ 63,565	$ 74,887
Contract liabilities—current	6,251	6,887
Contract liabilities—noncurrent	8,355	$ 10,526
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Contract With Customer Asset And Liability [Line Items]
Customer receivables	(11,322)
Contract liabilities—current	(636)
Contract liabilities—noncurrent	$ (2,171)

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Tooling Reimbursement [Member]
Revenue From Contract With Customers [Line Items]
Deferred revenue, revenue recognized	$ 10.5	$ 13.1
Price Adjustments [Member]
Revenue From Contract With Customers [Line Items]
Deferred revenue, revenue recognized	$ 1.5	$ 2.6

Fair Value Measurements - Recur

Fair Value Measurements - Recurring (Detail) - Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Derivative contracts	$ 34,960	$ 10,362
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Assets, Current	Assets, Current
Total	$ 34,960	$ 10,362
Liabilities
Derivative contracts	$ 11,780	$ 19,711
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities, Current	Liabilities, Current
Total	$ 11,780	$ 19,711
Level 2 [Member]
Assets
Derivative contracts	$ 34,960	$ 10,362
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Assets, Current	Assets, Current
Total	$ 34,960	$ 10,362
Liabilities
Derivative contracts	$ 11,780	$ 19,711
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities, Current	Liabilities, Current
Total	$ 11,780	$ 19,711

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative Instrument Detail [Abstract]
Estimated aggregate fair value	$ 615,394	$ 605,874
Aggregate carrying value	$ 647,443	$ 616,215

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments objectives	We use derivatives to partially offset our exposure to foreign currency, interest rate, aluminum and other commodity price risks. We may enter into forward contracts, option contracts, swaps, collars or other derivative instruments to offset some of the risk on expected future cash flows and on certain existing assets and liabilities.
Maximum length of time, foreign currency cash flow hedge	48 months

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Fair Value of Derivatives by Balance Sheet Line Item (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	$ 16,423	$ 7,711
Other Non-current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	18,537	2,651
Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	5,798	5,870
Other Non-current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	5,982	13,841
Designated as Hedging Instrument [Member] | Natural Gas [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	498	1,294
Designated as Hedging Instrument [Member] | Natural Gas [Member] | Other Non-current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	655	418
Designated as Hedging Instrument [Member] | Natural Gas [Member] | Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	1,520	135
Designated as Hedging Instrument [Member] | Natural Gas [Member] | Other Non-current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	770	276
Foreign Exchange Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	11,210	3,161
Foreign Exchange Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Non-current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	15,890	2,194
Foreign Exchange Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	2,873	1,845
Foreign Exchange Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Non-current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	5,212	13,565
Foreign Exchange Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	603	579
Foreign Exchange Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	192	3
Aluminum Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets		2,677
Aluminum Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Non-current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets		39
Aluminum Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	1,213
Interest Rate Swap Contracts Designated as Hedges [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	4,112
Interest Rate Swap Contracts Designated as Hedges [Member] | Designated as Hedging Instrument [Member] | Other Non-current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	$ 1,992
Interest Rate Swap Contracts Designated as Hedges [Member] | Designated as Hedging Instrument [Member] | Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities		$ 3,887

Derivative Financial Instrume_5

Derivative Financial Instruments - Summary of Notional Amount and Estimated Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
December 31, 2021	$ 775,504	$ 729,712
December 31, 2021	23,180	(9,349)
Designated as Hedging Instrument [Member] | Natural Gas [Member]
Derivatives, Fair Value [Line Items]
December 31, 2021	13,500	8,915
December 31, 2021	(1,137)	1,301
Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
December 31, 2021	462,783	458,769
December 31, 2021	19,015	(10,055)
Designated as Hedging Instrument [Member] | Aluminum Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
December 31, 2021	9,495	37,609
December 31, 2021	(1,213)	2,716
Designated as Hedging Instrument [Member] | Interest Rate Swap Contracts Designated as Hedges [Member]
Derivatives, Fair Value [Line Items]
December 31, 2021	250,000	200,000
December 31, 2021	6,104	(3,887)
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
December 31, 2021	39,726	24,419
December 31, 2021	$ 411	$ 576

Derivative Financial Instrume_6

Derivative Financial Instruments - Summary of Gain or Loss Recognized in Accumulated Other Comprehensive Income or Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Amount of Gain or (Loss) Recognized in AOCI on Derivatives	$ 28,895	$ (7,313)
Derivative [Member]
Derivatives, Fair Value [Line Items]
Amount of Gain or (Loss) Recognized in AOCI on Derivatives	28,895	(7,313)
Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income	$ 14,962	$ 4,106
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Amount of Gain or (Loss) Recognized in AOCI on Derivatives	Amount of Gain or (Loss) Recognized in AOCI on Derivatives
Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives	$ 2,074	$ (1,047)

Business Segments - Summary of

Business Segments - Summary of Net Sales and Results of Operations and Total Assets by Reportable Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	$ 1,639,902	$ 1,384,750
Income (Loss) from Operations	98,040	55,376
Depreciation and Amortization	91,172	99,635
Capital Expenditures	57,157	64,113
Property, Plant and Equipment, net	473,960	494,401
Intangible Assets	51,497	76,870
Total assets	1,133,739	1,054,147
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	943,713	744,904
Income (Loss) from Operations	71,772	50,798
Depreciation and Amortization	36,301	36,243
Capital Expenditures	39,265	30,005
Property, Plant and Equipment, net	220,321	214,331
Total assets	582,339	499,988
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	696,189	639,846
Income (Loss) from Operations	26,268	4,578
Depreciation and Amortization	54,871	63,392
Capital Expenditures	17,892	34,108
Property, Plant and Equipment, net	253,639	280,070
Intangible Assets	51,497	76,870
Total assets	$ 551,400	$ 554,159

Business Segments - Net Sales a

Business Segments - Net Sales and Long-Lived Assets by Location (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	$ 1,639,902	$ 1,384,750
Property, Plant and Equipment, net	473,960	494,401
U.S. [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	5,574	8,166
Property, Plant and Equipment, net	1,476	2,152
Mexico [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	938,139	736,738
Property, Plant and Equipment, net	218,845	212,179
Germany [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	203,979	227,887
Property, Plant and Equipment, net	76,158	76,849
Poland [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	492,210	411,959
Property, Plant and Equipment, net	$ 177,481	$ 203,221

Accounts Receivable - Summary o

Accounts Receivable - Summary of Accounts Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Trade receivables	$ 64,225	$ 75,713
Other receivables	9,161	8,560
Accounts receivable, gross	73,386	84,273
Allowance for doubtful accounts	(661)	(826)
Accounts receivable, net	$ 72,725	$ 83,447

Accounts Receivable - Additiona

Accounts Receivable - Additional Information (Detail) - Customer Concentration Risk [Member] - Accounts Receivable [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
General Motors [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration Risk, Percentage	7%	10%
Volkswagen [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration Risk, Percentage	11%	10%
Ford [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration Risk, Percentage	7%	9%

Accounts Receivable - Schedule

Accounts Receivable - Schedule of Revenues by Major Customers (Detail) - Customer Concentration Risk [Member] - Sales [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
General Motors [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration Risk, Percentage	26%	26%
Ford [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration Risk, Percentage	16%	13%
Volkswagen [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration Risk, Percentage	14%	14%

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 62,639	$ 47,392
Work in process	37,993	54,891
Finished goods	78,056	69,816
Inventories, net	$ 178,688	$ 172,099

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory, non-current	$ 11.3	$ 9.7

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,117,348	$ 1,068,283
Accumulated depreciation	(643,388)	(573,882)
Property, plant and equipment, net	473,960	494,401
Land and Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	144,870	129,826
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	887,222	861,097
Leasehold Improvements and Other [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,993	9,831
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 80,263	$ 67,529

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 70.2	$ 73.3

Intangible Assets - Summary of

Intangible Assets - Summary of Finite-Lived Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets, Gross Carrying Amount	$ 191,000	$ 191,000
Accumulated Amortization	(138,951)	(118,215)
Finite-lived Intangible Assets, Currency Translation	(552)	4,085
Finite lived Intangible Assets, Net	51,497	76,870
Brand Name [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets, Gross Carrying Amount	9,000	9,000
Accumulated Amortization	(9,134)	(8,503)
Finite-lived Intangible Assets, Currency Translation	134	258
Finite lived Intangible Assets, Net		$ 755
Brand Name [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period		1 year
Brand Name [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period		2 years
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets, Gross Carrying Amount	15,000	$ 15,000
Accumulated Amortization	(15,222)	(14,172)
Finite-lived Intangible Assets, Currency Translation	222	430
Finite lived Intangible Assets, Net		$ 1,258
Finite-Lived Intangible Assets, Remaining Amortization Period		2 years
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets, Gross Carrying Amount	167,000	$ 167,000
Accumulated Amortization	(114,595)	(95,540)
Finite-lived Intangible Assets, Currency Translation	(908)	3,397
Finite lived Intangible Assets, Net	$ 51,497	$ 74,857
Customer Relationships [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	1 year	2 years
Customer Relationships [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	6 years	7 years

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 20.7	$ 26.3
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	19.3
2024	19.3
2025	9.5
2026	2.4
2027	$ 1

Debt - Summary of Long-Term Deb

Debt - Summary of Long-Term Debt and Related Weighted Average Interest Rates (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total Debt	$ 647,443	$ 616,215
Debt Discount and Issuance Costs	(25,425)	(7,779)
Total Debt, Net	622,018	608,436
Less: Current portion	(5,873)	(6,081)
Long-term debt	616,145	602,355
Term Loan Facility [Member]
Debt Instrument [Line Items]
Total Debt	400,000	349,200
Debt Discount and Issuance Costs	(22,967)	(4,338)
Total Debt, Net	$ 377,033	$ 344,862
Weighted Average Interest Rate	12.30%	4.10%
Senior Notes [Member] | 6.00% Senior Notes [Member]
Debt Instrument [Line Items]
Total Debt	$ 232,352	$ 245,809
Debt Discount and Issuance Costs	(2,458)	(3,441)
Total Debt, Net	$ 229,894	$ 242,368
Weighted Average Interest Rate	6%	6%
European CapEx Loans [Member]
Debt Instrument [Line Items]
Total Debt	$ 12,365	$ 18,595
Total Debt, Net	$ 12,365	$ 18,595
Weighted Average Interest Rate	2.30%	2.30%
Finance Leases [Member]
Debt Instrument [Line Items]
Total Debt	$ 2,726	$ 2,611
Total Debt, Net	$ 2,726	$ 2,611
Weighted Average Interest Rate	2.70%	2.80%

Debt - Summary of Long-Term D_2

Debt - Summary of Long-Term Debt and Related Weighted Average Interest Rates (Parenthetical) (Detail)	Dec. 31, 2022	Dec. 31, 2021
6.00% Senior Notes [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate stated, percentage	6%	6%

Debt - Additional Information (

Debt - Additional Information (Detail)			1 Months Ended		3 Months Ended		12 Months Ended
	Dec. 15, 2022 USD ($)	Jun. 15, 2017 EUR (€)	Jun. 30, 2021 USD ($)	Jun. 30, 2021 EUR (€)	Mar. 31, 2021 EUR (€)	Mar. 31, 2020 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 15, 2022 EUR (€)	Dec. 31, 2021 USD ($)	May 30, 2017 USD ($)
Debt Instrument [Line Items]
Debt default, maximum period of failure to comply with obligations, covenants or agreements							60 days
Debt default, holder percent to declare all notes due, minimum							30%
Debt issuance costs and expenses							$ 25,425,000		$ 7,779,000
Term loan facility balance							647,443,000		616,215,000
Long-term debt							$ 622,018,000		$ 608,436,000
Long-term debt, term							5 years
Obligations under other debt agreements cross-default minimum amount							$ 20,000,000
Failure to pay material plan withdrawal obligations							20,000,000
European Operations [Member]
Debt Instrument [Line Items]
Long-term debt							3,600,000			$ 70,700,000
Senior Notes, 6.00%, due 2025 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount | €		€ 250,000,000
Debt instrument, interest rate stated, percentage		6%
Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Prepayment premium during first year	2%
Prepayment premium during second year	2%
Prepayment premium during third year	1%
Debt instrument maturity date description	However, in the event the Company has not repaid, refinanced or otherwise extended the maturity date of the Notes beyond the maturity date of the Term Loan Facility by the date 91 days prior to June 15, 2025, the Term Loan Facility and Revolving Credit Facility would mature 91 days prior to June 15, 2025. Similarly, in the event the Company has not redeemed, refinanced or otherwise extended the unconditional redemption date of the redeemable preferred stock beyond the maturity date of the Term Loan Facility by the date 91 days prior to September 14, 2025, the Term Loan Facility and Revolving Credit Facility would mature 91 days prior to September 14, 2025.
Liquidity amount	$ 37,500,000
Increase in commitment adjustments							$ 50,000,000
Senior Secured Term Loan Facility [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Amount of term loan facility	$ 400,000,000
Line of credit facility maturity date	Dec. 15, 2028
Principal payment amount	$ 1,000,000
Issuance discount	12,000,000
Proceeds of borrowings under term loan facility	388,000,000
Debt issuance costs	$ 11,100,000
Debt instrument amortization term	6 years
Additional default interest rate							2%
Repayments under term loan facility	$ 349,200,000
Amount outstanding							$ 4,800,000
Senior Secured Term Loan Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio							1%
Senior Secured Term Loan Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio							3.50%
Senior Secured Term Loan Facility [Member] | NYFRB [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Senior Secured Term Loan Facility [Member] | SOFR [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							8%
Senior Secured Term Loan Facility [Member] | SOFR [Member] | Minimum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%						7.50%
Senior Secured Term Loan Facility [Member] | SOFR [Member] | Maximum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							8%
Senior Secured Term Loan Facility [Member] | One Month SOFR [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
Senior Secured Term Loan Facility [Member] | Base Rate [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%						7%
Senior Secured Term Loan Facility [Member] | Base Rate [Member] | Minimum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							6.50%
Senior Secured Term Loan Facility [Member] | Base Rate [Member] | Maximum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							7%
Equipment Loan [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate stated, percentage							2.30%
Long-term debt							$ 8,800,000
Drew down on loans | €					€ 1,400,000	€ 10,600,000
Equipment Loan [Member] | European Operations [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate stated, percentage							2.20%
Debt instrument, maturity date							Mar. 31, 2024
Debt Instrument Redemption Period Two [Member] | Senior Notes, 6.00%, due 2025 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Redemption percentage		100%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amount of term loan facility	$ 107,500,000							€ 60,000,000
Maximum additional borrowing capacity	$ 50,000,000
Additional default interest rate							2%
Liquidity amount							$ 37,500,000
Increase in commitment adjustments							50,000,000
Increase in unrestricted cash and cash equivalent covenants							50,000,000
Decrease in unrestricted cash and cash equivalent covenants							$ 37,500,000
Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Commitment fees percentage							0.50%
Net leverage ratio	1%						1%
Secured net leverage ratio							1%
Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Commitment fees percentage							0.625%
Net leverage ratio	2%						4.50%
Secured net leverage ratio							3.50%
Revolving Credit Facility [Member] | NYFRB [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Revolving Credit Facility [Member] | SOFR [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.10%						4%
Revolving Credit Facility [Member] | SOFR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							3.50%
Revolving Credit Facility [Member] | SOFR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							4.50%
Revolving Credit Facility [Member] | One Month SOFR [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%						3%
Revolving Credit Facility [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							2.50%
Revolving Credit Facility [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							3.50%
Revolving Credit Facility [Member] | EURIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0%						4%
Revolving Credit Facility [Member] | EURIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							3.50%
Revolving Credit Facility [Member] | EURIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							4.50%
Revolving Credit Facility [Member] | Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Amount of term loan facility	$ 60,000,000
Line of credit facility maturity date	Dec. 15, 2027
Unamortized debt issuance costs to written off and charged to interest expense	$ 3,700,000
Debt issuance costs and expenses	$ 3,200,000
Debt instrument amortization term	5 years
Outstanding borrowings							$ 0
Revolving Credit Facility [Member] | Senior Secured Term Loan Facility [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Amount of availability							$ 55,200,000
European Revolving Credit Facility [Member] | Equipment Loan [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date							Sep. 30, 2027
Quarterly payment			$ 500,000	€ 500,000
Quarterly payment, start date							Jun. 30, 2021

Debt - Schedule of Debt Maturit

Debt - Schedule of Debt Maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Maturities of Long-Term Debt [Abstract]
2023	$ 5,873
2024	3,672
2025	234,728
2026	2,055
2027	1,117
Thereafter	399,998
Total debt liabilities	$ 647,443	$ 616,215

Redeemable Preferred Stock - Ad

Redeemable Preferred Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Aug. 30, 2017	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2017
Temporary Equity [Line Items]
Temporary equity, stock issued during period, shares, new issues		150,000	150,000	150,000
Temporary equity, par value		$ 0.01	$ 0.01	$ 0.01
Proceeds from issuance of redeemable preferred shares				$ 150,000
Preferred stock, dividend rate, percentage		9%	9%
Preferred stock redemption date		Sep. 14, 2025
Common stock, shares issued upon conversion of preferred stock		5,326,000
Issuance costs				3,700
Embedded derivative liability				10,900
Adjusted proceeds from issuance of redeemable preferred shares				$ 135,500
Cumulative premium accretion		$ 87,300	$ 64,400
Redeemable preferred stock		222,753	$ 199,897
Convertible Preferred Stock Redemption Period Two [Member]
Temporary Equity [Line Items]
Convertible preferred stock, redemption value		300,000
Convertible preferred stock, redemption value percent of stated value			200%
Convertible preferred stock, face value		$ 150,000
Common stock, shares issued upon conversion of preferred stock		5,300,000
Series A Redeemable Preferred Stock [Member]
Temporary Equity [Line Items]
Temporary equity, stock issued during period, shares, new issues				140,202
Temporary equity, par value	$ 0.01
Temporary equity, liquidation preference per share	1,000
Temporary equity, conversion price	$ 28.162
Preferred stock, dividend rate, percentage	9%
Convertible preferred stock, threshold stock price trigger				$ 84.49
Series B Redeemable Preferred Stock [Member]
Temporary Equity [Line Items]
Temporary equity, stock issued during period, shares, new issues				9,798

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) shares in Thousands	Dec. 31, 2022 shares
Earnings Per Share [Abstract]
Common stock, shares issued upon conversion of preferred stock	5,326

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per share, Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Basic Earnings Per Share:
Net income	$ 37,034	$ 3,754
Less: Redeemable preferred stock dividends and accretion	(36,453)	(34,050)
Less: European non-controlling redeemable equity dividend	(53)	(42)
Basic numerator	$ 528	$ (30,338)
Basic earnings (loss) per share	$ 0.02	$ (1.17)
Weighted average shares outstanding – Basic	26,839	25,995
Diluted Earnings Per Share:
Net income	$ 37,034	$ 3,754
Less: Redeemable preferred stock dividends and accretion	(36,453)	(34,050)
Less: European non-controlling redeemable equity dividend	(53)	(42)
Diluted numerator	$ 528	$ (30,338)
Diluted loss per share	$ 0.02	$ (1.17)
Weighted average shares outstanding – Basic	26,839	25,995
Dilutive effect of common share equivalents	751
Weighted average shares outstanding – Diluted	27,590	25,995

Income Taxes - Income (Loss) Be

Income Taxes - Income (Loss) Before Income Taxes From Domestic and International Jurisdictions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ (22,538)	$ (44,129)
Foreign	73,676	55,320
Consolidated income (loss) before income taxes	$ 51,138	$ 11,191

Income Taxes - Benefit (Provisi

Income Taxes - Benefit (Provision) for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal	$ (1,946)	$ (67)
State	(77)	(99)
Foreign	(21,345)	(9,229)
Total current taxes	(23,368)	(9,395)
Federal	275	711
Foreign	8,989	1,247
Total deferred taxes	9,264	1,958
Income tax provision	$ (14,104)	$ (7,437)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the U.S. Federal Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory rate	21%	21%
State tax provisions, net of federal income tax benefit	(1.70%)	(14.20%)
Tax credits	(26.40%)	(13.20%)
Foreign income taxes at rates other than the statutory rate	(19.90%)	(97.10%)
Valuation allowance	15.60%	203.60%
Changes in tax liabilities, net	4.90%	(89.70%)
Share based compensation	3.40%	10.90%
Unremitted non-U.S. Earnings	2%	3.60%
U.S. tax on non-U.S. income	19.90%	16.30%
Non-deductible charges	4.10%	22.30%
Other	(1.20%)	3%
Effective income tax rate	27.50%	66.50%

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax assets:
Accrued liabilities	$ 7,220	$ 4,964
Hedging and foreign currency gains (losses)	1,353	9,231
Deferred compensation	6,638	8,162
Inventory reserves	3,895	3,777
Net loss carryforwards and credits	48,774	40,747
Interest carryforwards	23,098	29,366
Intangibles, property, plant and equipment and other	7,865
Competent authority deferred tax assets and other foreign timing differences	4,915	4,739
Other	946	1,143
Total before valuation allowance	104,704	102,129
Valuation allowance	(67,626)	(69,388)
Net deferred income tax assets	37,078	32,741
Deferred income tax liabilities:
Intangibles, property, plant and equipment and other		(4,408)
Unremitted earnings	(5,359)	(4,531)
Deferred income tax liabilities	(5,359)	(8,939)
Net deferred income tax assets	31,719	23,802
Long-term deferred income tax assets	35,187	27,715
Long-term deferred income tax liabilities	$ (3,468)	$ (3,913)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Unrecognized Tax Benefits Summary [Line Items]
Unrecognized tax benefits that would favorably impact effective tax rate	$ 3.1
Unrecognized tax benefits, income tax penalties and interest accrued	6.2	$ 6.2
U.S. [Member]
Unrecognized Tax Benefits Summary [Line Items]
Operating Loss Carryforwards	11.5
Tax credit carryforward, amount	13.9
Germany [Member]
Unrecognized Tax Benefits Summary [Line Items]
Operating Loss Carryforwards	$ 25.6
Earliest Tax Year [Member]
Unrecognized Tax Benefits Summary [Line Items]
Operating loss carryforwards, expiration year	2023
Open tax year	2015
Earliest Tax Year [Member] | U.S. [Member]
Unrecognized Tax Benefits Summary [Line Items]
Ongoing tax audits period	2015
Income tax examination year	2015
Earliest Tax Year [Member] | Germany [Member]
Unrecognized Tax Benefits Summary [Line Items]
Ongoing tax audits period	2018
Income tax examination year	2018
Latest Tax Year [Member]
Unrecognized Tax Benefits Summary [Line Items]
Operating loss carryforwards, expiration year	2043
Open tax year	2021
Latest Tax Year [Member] | U.S. [Member]
Unrecognized Tax Benefits Summary [Line Items]
Ongoing tax audits period	2018
Income tax examination year	2018
Latest Tax Year [Member] | Germany [Member]
Unrecognized Tax Benefits Summary [Line Items]
Ongoing tax audits period	2019
Income tax examination year	2019

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Positions Roll Forward (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Beginning balance	$ 16,362	$ 31,858
Increases (decreases) due to foreign currency translations	(712)	(1,192)
Increases (decreases) as a result of positions taken during: Prior periods	10,580	(13,633)
Current period	50	48
Settlements with taxing authorities		(719)
Expiration of applicable statutes of limitation	(180)
Ending balance	$ 26,100	$ 16,362

Leases - Additional Information

Leases - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022
Operating Leased Assets [Line Items]
Lessee, operating lease, option to extend	Certain leases include options to extend the lease term for up to ten years
Minimum [Member]
Operating Leased Assets [Line Items]
Lessee, operating lease, term of contract	1 year
Maximum [Member]
Operating Leased Assets [Line Items]
Lessee, operating lease, term of contract	7 years

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expense, Cash Flow, Operating and Finance Lease Assets and Liabilities, Average Lease Term and Average Discount Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finance lease expense:
Amortization of right-of-use assets	$ 1,040	$ 1,325
Interest on lease liabilities	59	82
Operating lease expense	2,601	3,070
Total lease expense	3,700	4,477
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from finance leases	59	82
Operating cash outflows from operating leases	2,738	3,460
Financing cash outflows from finance leases	1,062	1,321
Right-of-use assets obtained in exchange for finance lease liabilities, net of terminations and disposals	1,249	922
Right-of-use assets obtained in exchange for operating lease liabilities, net of terminations and disposals	333	416
Operating leases:
Other non-current assets	$ 8,325	$ 10,772
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Accrued liabilities	$ (2,137)	$ (2,371)
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses	Accrued expenses
Other non-current liabilities	$ (6,516)	$ (8,860)
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities
Total operating lease liabilities	$ (8,653)	$ (11,231)
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Property, plant and equipment gross	$ 7,899	$ 6,603
Accumulated depreciation	(5,684)	(4,644)
Property, plant and equipment, net	$ 2,215	$ 1,959
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Current portion of long-term debt	$ (1,053)	$ (982)
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses	Accrued expenses
Long-term debt (less current portion)	$ (1,673)	$ (1,629)
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities
Total finance lease liabilities	$ (2,726)	$ (2,611)
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Weighted-average remaining lease term - finance leases (years)	3 years 2 months 12 days	3 years 4 months 24 days
Weighted-average remaining lease term - operating leases (years)	4 years 2 months 12 days	5 years
Weighted-average discount rate - finance leases	2.70%	2.80%
Weighted-average discount rate - operating leases	3.60%	3.60%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Rental Payments For Finance and Operating Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Finance Leases, 2023	$ 1,053
Finance Leases, 2024	993
Finance Leases, 2025	411
Finance Leases, 2026	167
Finance Leases, 2027	104
Finance Leases, Thereafter	101
Finance Leases, Total	2,829
Finance Leases, Less: Imputed interest	(103)
Finance Leases, Total lease liabilities, net of interest	2,726	$ 2,611
Operating Leases, 2023	2,250
Operating Leases, 2024	2,199
Operating Leases, 2025	2,044
Operating Leases, 2026	1,886
Operating Leases, 2027	870
Operating Leases, Thereafter	43
Operating Leases, Total	9,292
Operating Leases, Less: Imputed interest	(639)
Operating Leases, Total lease liabilities, net of interest	$ 8,653	$ 11,231

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) Age	Dec. 31, 2021 USD ($)
Retirement Benefits [Abstract]
Age for benefits | Age	65
Defined contribution plan, cost recognized | $	$ 1.7	$ 1.4

Retirement Plans - Summary of C

Retirement Plans - Summary of Changes in Plan Assets and Plan Benefit Obligations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Beginning benefit obligation	$ 31,120	$ 32,640
Interest cost	872	823
Actuarial loss (gain)	(7,392)	(928)
Benefit payments	(1,445)	(1,415)
Ending benefit obligation	$ 23,155	$ 31,120

Retirement Plans - Schedule of

Retirement Plans - Schedule of Defined Benefit Plans Disclosures (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Fair value of plan assets at beginning of year	$ 0	$ 0
Employer contribution	1,445	1,415
Benefit payments	(1,445)	(1,415)
Fair value of plan assets at end of year	0	0
Funded status	(23,155)	(31,120)
Accrued expenses	(1,393)	(1,432)
Other non-current liabilities	(21,762)	(29,688)
Net amount recognized	(23,155)	(31,120)
Net actuarial loss	1,721	9,446
Prior service cost		(1)
Net amount recognized, before tax effect	$ 1,721	$ 9,445
Discount rate	5.40%	2.90%
Rate of compensation increase	3%	3%

Retirement Plans - Schedule o_2

Retirement Plans - Schedule of Net Benefit Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Interest cost	$ 872	$ 823
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax	Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax
Amortization of actuarial loss	$ 332	$ 386
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax
Net periodic pension cost	$ 1,204	$ 1,209
Discount rate	2.90%	2.60%
Rate of compensation increase	3%	3%

Retirement Plans - Schedule o_3

Retirement Plans - Schedule of Expected Benefit Payments (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Retirement Benefits [Abstract]
2023	$ 1,431
2024	1,481
2025	1,693
2026	1,716
2027	1,759
Years 2028 to 2032	$ 8,964

Retirement Plans - Periodic Pen

Retirement Plans - Periodic Pension Cost, Next Fiscal Year (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Interest cost		$ 872	$ 823
Estimated 2023 net periodic pension cost		$ 1,204	$ 1,209
Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 1,217
Estimated 2023 net periodic pension cost	$ 1,217

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Payroll and related benefits	$ 35,076	$ 31,930
Taxes, other than income taxes	15,330	13,973
Deferred tooling revenue	6,251	6,887
Current portion of derivative liability	5,798	5,870
Short-term operating lease liability	2,137	2,371
Dividends and interest	1,532	1,417
Current portion of executive retirement liabilities	1,393	1,432
Professional fees	1,046	687
Other	5,545	6,958
Accrued liabilities	$ 74,108	$ 71,525

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorizes issuance of common stock	4,350,000
Number of authorized shares increased under the Plan	2,000,000
Number of shares available for grant	200,000
Stock-based compensation expense	$ 9.7	$ 9.5
Amount of unrecognized stock-based compensation expense	$ 7.3
Weighted average period for recognition	1 year 7 months 6 days
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance Shares Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of RSU, PSU and Option Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Number of Options Outstanding
Number of Options Outstanding, Beginning balance (in shares)	9,000	24,000
Forfeited or expired (in shares)	(9,000)	(15,000)
Number of Options Outstanding, Ending balance (in shares)		9,000
Number of Options Outstanding, Awards estimated to vest in the future (in shares)		9,000
Weighted Average Exercise Price
Weighted Average Exercise Price, Beginning balance (in dollars per share)	$ 16.76	$ 20.39
Forfeited or expired (in dollars per share)	$ 16.76	22.57
Weighted Average Exercise Price, Ending balance (in dollars per share)		16.76
Weighted Average Exercise Price, Awards estimated to vest in the future ( in dollar per share)		$ 16.76
Restricted Stock Units [Member]
Number of Awards
Number of Awards, Beginning balance (in shares)	966,429	1,213,667
Granted (in shares)	515,491	411,291
Settled (in shares)	(580,551)	(626,004)
Forfeited or expired (in shares)	(4,570)	(32,525)
Number of Awards, Ending balance (in shares)	896,799	966,429
Number of awards,Awards estimated to vest in the future (in shares)	896,799	939,298
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Beginning balance (in dollars per share)	$ 4.62	$ 3.59
Granted (in dollars per share)	3.93	5.94
Settled (in dollars per share)	4.73	3.30
Forfeited or expired (in dollars per share)	3.77	8.13
Weighted Average Grant Date Fair Value, Ending balance (in dollars per share)	4.16	4.62
Weighted Average Grant Date Fair Value, Awards estimated to vest in the future (in dollar per share)	$ 4.16	$ 4.67
Performance Shares Unit [Member]
Number of Awards
Number of Awards, Beginning balance (in shares)	2,484,581	2,176,290
Granted (in shares)	667,345	653,438
Settled (in shares)	(719,659)	(193,778)
Forfeited or expired (in shares)	(109,166)	(151,369)
Number of Awards, Ending balance (in shares)	2,323,101	2,484,581
Number of awards,Awards estimated to vest in the future (in shares)	2,323,101	1,997,713
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Beginning balance (in dollars per share)	$ 6.67	$ 4.88
Granted (in dollars per share)	5.33	8.41
Settled (in dollars per share)	6.68	5.45
Forfeited or expired (in dollars per share)	7.24	12.61
Weighted Average Grant Date Fair Value, Ending balance (in dollars per share)	6.26	6.67
Weighted Average Grant Date Fair Value, Awards estimated to vest in the future (in dollar per share)	$ 6.26	$ 6.86

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Provision for this contingent loss	$ 0
Contingency related to estimate to manufacture and install replacement wheels	11,000,000
Judicial Ruling [Member]
Loss Contingencies [Line Items]
Provision for this contingent loss	$ 0
Loss from Catastrophes | Other Expense, Net [Member]
Loss Contingencies [Line Items]
Net casualty loss		$ (1,500,000)
Minimum [Member]
Loss Contingencies [Line Items]
Loss contingency, expected trial commencement term	18 months
Maximum [Member]
Loss Contingencies [Line Items]
Contingency related to additional charges on energy purchases	$ 14,000,000
Loss contingency, expected trial commencement term	24 months

Receivables Factoring - Additio

Receivables Factoring - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable [Line Items]
Trade receivables	$ 955,100,000	$ 775,600,000
Collective limit under factoring arrangements	150,000,000	125,100,000
Factored receivables yet not collected	97,200,000	97,600,000
Other (Expense) Income, Net [Member]
Accounts Receivable [Line Items]
Factoring fees	$ 3,600,000	$ 2,100,000

Restructuring - Additional Info

Restructuring - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
	Jul. 15, 2021	Dec. 31, 2021	Sep. 30, 2019	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost And Reserve [Line Items]
Termination costs and related expenses				$ 1,900
Remaining accrual and credited cost of sales				2,300
Original accrual balance less charge incurred and foreign exchange				300
Proceeds from sale of fixed assets				$ 150	$ 6,589
Werdohl [Member] | Cost of Sales [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charge		$ 4,500
Fayetteville, Arkansas Manufacturing Facility [Member]
Restructuring Cost And Reserve [Line Items]
Proceeds from sale of fixed assets	$ 7,100
Additional charges to cost of sales					$ 2,200
Fayetteville, Arkansas Manufacturing Facility [Member] | Cost of Sales [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring expenses recognized			$ 14,800
Fayetteville, Arkansas Manufacturing Facility [Member] | Selling, General and Administrative Expense [Member]
Restructuring Cost And Reserve [Line Items]
Gain on sale of facility	$ 4,400

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Allowance for Doubtful Accounts Receivable [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	$ 826	$ 863
Additions, Charge to Costs and Expenses	(122)	484
Deductions From Reserves	(43)	(521)
Balance at End of Year	661	826
Valuation Allowances for Deferred Tax Assets [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	69,388	46,490
Additions, Charge to Costs and Expenses	7,779	23,467
Additions, Other	(9,541)	(569)
Balance at End of Year	$ 67,626	$ 69,388